Appendix Table  22:
The Impact of Potential OASI Reforms on Implicit Wealth Tax Rates
                             Non-College (r=5%)                  

Quintile of Lifetime Earnings:                   Lowest  Middle Highest  All 

                                                      Birth Cohort 1945-49

 0 Current Rules                                  -30.7   63.3   75.0   65.6
 1 38% Tax Hike Beginning in Year 2000            -27.0   64.4   76.2   66.9
 2 25% Benefit Cut Beginning in Year 2000           1.7   72.7   81.3   74.3
 3 Acclerated Increase in NRA                     -10.4   71.0   81.1   73.0
 4 CPI Indexing of Covered Earnings               -20.4   66.3   76.5   68.2
 5 Indexing Benefits by CPI Minus 1%              -16.9   66.8   77.5   68.9
 6 Stabilize Real Per Capita Benefits             -15.4   67.6   78.0   69.7
 7 Freeze Bend Points in Real Terms               -27.0   64.5   76.1   66.8
 8 Eliminate Earnings Ceiling                     -31.8   63.1   74.9   65.6
 9 Eliminate Earnings Ceiling w/o Benefit Change  -30.7   63.3   76.3   66.3
10 Increase Computation Years from 35 to 40       -24.5   64.7   75.8   66.9
  
                                                      Birth Cohort 1970-74

 0 Current Rules                                  -29.1   57.9   77.7   66.6
 1 38% Tax Hike Beginning in Year 2000             -4.6   66.6   82.4   73.6
 2 25% Benefit Cut Beginning in Year 2000           3.4   68.7   83.3   75.1
 3 Acclerated Increase in NRA                     -11.9   65.1   81.8   72.3
 4 CPI Indexing of Covered Earnings               -17.0   61.5   79.1   69.3
 5 Indexing Benefits by CPI Minus 1%              -15.1   62.1   80.0   70.0
 6 Stabilize Real Per Capita Benefits              21.1   74.7   86.5   79.8
 7 Freeze Bend Points in Real Terms               -17.8   62.8   80.8   70.7
 8 Eliminate Earnings Ceiling                     -32.6   57.6   79.0   68.6
 9 Eliminate Earnings Ceiling w/o Benefit Change  -29.0   57.9   83.2   71.1
10 Increase Computation Years from 35 to 40       -22.1   59.5   78.1   67.7
  
                                                      Birth Cohort 1995-00

 0 Current Rules                                  -17.3   54.1   78.1   65.2
 1 38% Tax Hike Beginning in Year 2000             14.9   66.7   84.1   74.8
 2 25% Benefit Cut Beginning in Year 2000          12.2   65.9   83.6   74.0
 3 Acclerated Increase in NRA                      -2.0   61.0   81.8   70.7
 4 CPI Indexing of Covered Earnings                -5.9   58.0   79.5   68.1
 5 Indexing Benefits by CPI Minus 1%               -5.0   58.4   80.3   68.6
 6 Stabilize Real Per Capita Benefits              70.0   88.9   94.6   91.4
 7 Freeze Bend Points in Real Terms                  .5   62.8   82.9   72.4
 8 Eliminate Earnings Ceiling                     -20.4   54.0   80.0   67.8
 9 Eliminate Earnings Ceiling w/o Benefit Change  -17.3   54.2   83.6   70.0
10 Increase Computation Years from 35 to 40       -10.3   55.9   78.5   66.4
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Source: Author's calculations.