Appendix Table  2:
The Impact of Potential OASI Reforms on Lifetime Net Tax Rates
                                Women (r=5%)                     

Quintile of Lifetime Earnings:                   Lowest  Middle Highest  All 

                                                      Birth Cohort 1945-49

 0 Current Rules                                   -5.2    5.4    4.0    4.3
 1 38% Tax Hike Beginning in Year 2000             -4.9    5.7    4.3    4.6
 2 25% Benefit Cut Beginning in Year 2000           -.9    6.6    4.5    5.3
 3 Acclerated Increase in NRA                      -2.6    6.2    4.4    5.0
 4 CPI Indexing of Covered Earnings                -3.9    5.8    4.1    4.6
 5 Indexing Benefits by CPI Minus 1%               -3.4    5.9    4.2    4.7
 6 Stabilize Real Per Capita Benefits              -3.2    6.0    4.2    4.8
 7 Freeze Bend Points in Real Terms                -4.7    5.6    4.1    4.4
 8 Eliminate Earnings Ceiling                      -5.5    5.4    4.4    4.4
 9 Eliminate Earnings Ceiling w/o Benefit Change   -5.2    5.4    4.7    4.5
10 Increase Computation Years from 35 to 40        -4.5    5.6    4.1    4.5
  
                                                      Birth Cohort 1970-74

 0 Current Rules                                   -6.2    5.1    4.7    4.6
 1 38% Tax Hike Beginning in Year 2000             -4.0    7.5    6.3    6.6
 2 25% Benefit Cut Beginning in Year 2000          -2.1    6.4    5.0    5.5
 3 Acclerated Increase in NRA                      -4.2    5.8    4.9    5.1
 4 CPI Indexing of Covered Earnings                -4.8    5.5    4.8    4.9
 5 Indexing Benefits by CPI Minus 1%               -4.3    5.6    4.8    5.0
 6 Stabilize Real Per Capita Benefits                .1    7.1    5.3    6.0
 7 Freeze Bend Points in Real Terms                -4.7    5.7    4.9    5.0
 8 Eliminate Earnings Ceiling                      -7.0    5.0    7.3    6.0
 9 Eliminate Earnings Ceiling w/o Benefit Change   -6.2    5.1    8.0    6.4
10 Increase Computation Years from 35 to 40        -5.3    5.3    4.7    4.7
  
                                                      Birth Cohort 1995-00

 0 Current Rules                                   -4.6    5.0    5.2    4.9
 1 38% Tax Hike Beginning in Year 2000              -.7    8.8    7.8    8.0
 2 25% Benefit Cut Beginning in Year 2000           -.8    6.3    5.6    5.7
 3 Acclerated Increase in NRA                      -2.7    5.7    5.4    5.4
 4 CPI Indexing of Covered Earnings                -3.2    5.4    5.3    5.2
 5 Indexing Benefits by CPI Minus 1%               -2.9    5.5    5.4    5.2
 6 Stabilize Real Per Capita Benefits               6.4    8.9    6.4    7.5
 7 Freeze Bend Points in Real Terms                -2.1    6.0    5.5    5.6
 8 Eliminate Earnings Ceiling                      -5.1    4.9    8.0    6.3
 9 Eliminate Earnings Ceiling w/o Benefit Change   -4.5    5.0    8.7    6.7
10 Increase Computation Years from 35 to 40        -3.8    5.2    5.2    5.0
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Source: Author's calculations.