Appendix Table  17:
The Impact of Potential OASI Reforms on Implicit Wealth Tax Rates
                                 Men (r=5%)                      

Quintile of Lifetime Earnings:                   Lowest  Middle Highest  All 

                                                      Birth Cohort 1945-49

 0 Current Rules                                   20.6   69.4   77.4   74.5
 1 38% Tax Hike Beginning in Year 2000             25.0   70.4   78.4   75.5
 2 25% Benefit Cut Beginning in Year 2000          40.7   77.3   83.1   81.0
 3 Acclerated Increase in NRA                      37.0   77.3   83.3   81.1
 4 CPI Indexing of Covered Earnings                26.9   72.0   78.8   76.5
 5 Indexing Benefits by CPI Minus 1%               27.8   72.0   79.5   76.8
 6 Stabilize Real Per Capita Benefits              30.1   73.1   80.1   77.6
 7 Freeze Bend Points in Real Terms                23.0   70.4   78.4   75.5
 8 Eliminate Earnings Ceiling                      19.3   69.3   77.3   74.5
 9 Eliminate Earnings Ceiling w/o Benefit Change   20.6   69.4   78.6   75.3
10 Increase Computation Years from 35 to 40        26.9   70.4   78.0   75.3
  
                                                      Birth Cohort 1970-74

 0 Current Rules                                   36.1   62.1   79.5   74.1
 1 38% Tax Hike Beginning in Year 2000             48.9   70.5   83.9   79.7
 2 25% Benefit Cut Beginning in Year 2000          52.1   71.9   84.6   80.7
 3 Acclerated Increase in NRA                      48.1   69.7   83.4   79.2
 4 CPI Indexing of Covered Earnings                43.9   65.2   80.7   76.1
 5 Indexing Benefits by CPI Minus 1%               41.7   65.6   81.5   76.6
 6 Stabilize Real Per Capita Benefits              61.4   77.5   87.6   84.4
 7 Freeze Bend Points in Real Terms                38.9   66.5   82.3   77.5
 8 Eliminate Earnings Ceiling                      34.4   61.9   81.2   76.3
 9 Eliminate Earnings Ceiling w/o Benefit Change   36.1   62.2   85.1   79.0
10 Increase Computation Years from 35 to 40        41.2   63.5   79.8   74.9
  
                                                      Birth Cohort 1995-00

 0 Current Rules                                   13.2   58.1   78.0   70.6
 1 38% Tax Hike Beginning in Year 2000             37.0   69.6   84.0   78.6
 2 25% Benefit Cut Beginning in Year 2000          35.0   69.0   83.5   78.0
 3 Acclerated Increase in NRA                      24.6   64.8   81.6   75.2
 4 CPI Indexing of Covered Earnings                23.6   61.6   79.3   72.8
 5 Indexing Benefits by CPI Minus 1%               20.5   61.7   80.0   73.2
 6 Stabilize Real Per Capita Benefits              79.1   90.0   94.5   92.8
 7 Freeze Bend Points in Real Terms                22.7   65.7   82.8   76.8
 8 Eliminate Earnings Ceiling                      12.6   58.2   80.6   73.9
 9 Eliminate Earnings Ceiling w/o Benefit Change   13.2   58.2   85.0   77.0
10 Increase Computation Years from 35 to 40        19.6   59.6   78.4   71.4
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Source: Author's calculations.