Appendix Table  7:
The Impact of Potential OASI Reforms on Lifetime Net Tax Rates
                      White, College-Educated Men (r=5%)         

Quintile of Lifetime Earnings:                   Lowest  Middle Highest  All 

                                                      Birth Cohort 1945-49

 0 Current Rules                                    1.5    6.5    5.0    5.4
 1 38% Tax Hike Beginning in Year 2000              2.4    6.9    5.3    5.7
 2 25% Benefit Cut Beginning in Year 2000           3.8    7.3    5.3    5.8
 3 Acclerated Increase in NRA                       3.2    7.3    5.3    5.8
 4 CPI Indexing of Covered Earnings                 2.3    6.7    5.1    5.5
 5 Indexing Benefits by CPI Minus 1%                2.3    6.8    5.1    5.5
 6 Stabilize Real Per Capita Benefits               2.5    6.9    5.1    5.6
 7 Freeze Bend Points in Real Terms                 1.7    6.6    5.0    5.4
 8 Eliminate Earnings Ceiling                       1.5    6.5    5.3    5.7
 9 Eliminate Earnings Ceiling w/o Benefit Change    1.5    6.5    5.5    5.8
10 Increase Computation Years from 35 to 40         2.4    6.6    5.0    5.4
  
                                                      Birth Cohort 1970-74

 0 Current Rules                                    3.3    6.2    5.4    5.6
 1 38% Tax Hike Beginning in Year 2000              6.2    9.3    7.2    7.8
 2 25% Benefit Cut Beginning in Year 2000           5.1    7.3    5.7    6.1
 3 Acclerated Increase in NRA                       4.7    7.1    5.6    6.0
 4 CPI Indexing of Covered Earnings                 4.2    6.5    5.4    5.8
 5 Indexing Benefits by CPI Minus 1%                3.9    6.6    5.5    5.8
 6 Stabilize Real Per Capita Benefits               6.2    7.9    5.9    6.4
 7 Freeze Bend Points in Real Terms                 3.6    6.7    5.5    5.9
 8 Eliminate Earnings Ceiling                       3.1    6.2    8.0    7.7
 9 Eliminate Earnings Ceiling w/o Benefit Change    3.3    6.3    8.4    8.0
10 Increase Computation Years from 35 to 40         3.8    6.4    5.4    5.7
  
                                                      Birth Cohort 1995-00

 0 Current Rules                                    -.2    5.6    5.0    5.1
 1 38% Tax Hike Beginning in Year 2000              3.6    9.5    7.4    7.9
 2 25% Benefit Cut Beginning in Year 2000           2.4    6.8    5.3    5.7
 3 Acclerated Increase in NRA                        .7    6.3    5.2    5.4
 4 CPI Indexing of Covered Earnings                 1.1    6.0    5.0    5.3
 5 Indexing Benefits by CPI Minus 1%                 .6    6.0    5.1    5.3
 6 Stabilize Real Per Capita Benefits               7.6    9.2    6.1    6.8
 7 Freeze Bend Points in Real Terms                  .8    6.5    5.3    5.6
 8 Eliminate Earnings Ceiling                       -.3    5.6    8.3    7.6
 9 Eliminate Earnings Ceiling w/o Benefit Change    -.2    5.7    8.8    8.0
10 Increase Computation Years from 35 to 40          .6    5.8    5.0    5.2
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Source: Author's calculations.