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

Quintile of Lifetime Earnings:                   Lowest  Middle Highest  All 

                                                      Birth Cohort 1945-49

 0 Current Rules                                   -6.0    5.5    4.8    5.0
 1 38% Tax Hike Beginning in Year 2000             -5.8    5.8    5.1    5.3
 2 25% Benefit Cut Beginning in Year 2000          -1.5    6.6    5.2    5.6
 3 Acclerated Increase in NRA                      -3.2    6.3    5.2    5.5
 4 CPI Indexing of Covered Earnings                -4.7    5.8    4.9    5.2
 5 Indexing Benefits by CPI Minus 1%               -4.1    5.9    4.9    5.2
 6 Stabilize Real Per Capita Benefits              -3.9    6.0    5.0    5.3
 7 Freeze Bend Points in Real Terms                -5.5    5.6    4.8    5.1
 8 Eliminate Earnings Ceiling                      -6.5    5.4    5.1    5.2
 9 Eliminate Earnings Ceiling w/o Benefit Change   -6.0    5.5    5.3    5.3
10 Increase Computation Years from 35 to 40        -5.3    5.6    4.8    5.1
  
                                                      Birth Cohort 1970-74

 0 Current Rules                                   -4.3    5.4    5.0    5.2
 1 38% Tax Hike Beginning in Year 2000             -2.1    8.0    6.7    7.2
 2 25% Benefit Cut Beginning in Year 2000           -.7    6.6    5.3    5.8
 3 Acclerated Increase in NRA                      -2.4    6.2    5.3    5.6
 4 CPI Indexing of Covered Earnings                -3.1    5.8    5.1    5.4
 5 Indexing Benefits by CPI Minus 1%               -2.6    5.9    5.1    5.4
 6 Stabilize Real Per Capita Benefits               1.3    7.3    5.5    6.1
 7 Freeze Bend Points in Real Terms                -3.0    6.0    5.2    5.5
 8 Eliminate Earnings Ceiling                      -5.4    5.3    7.7    7.0
 9 Eliminate Earnings Ceiling w/o Benefit Change   -4.3    5.4    8.3    7.4
10 Increase Computation Years from 35 to 40        -3.4    5.6    5.0    5.3
  
                                                      Birth Cohort 1995-00

 0 Current Rules                                   -4.9    5.4    5.0    5.0
 1 38% Tax Hike Beginning in Year 2000             -1.2    9.3    7.5    7.9
 2 25% Benefit Cut Beginning in Year 2000          -1.2    6.7    5.4    5.7
 3 Acclerated Increase in NRA                      -3.1    6.2    5.2    5.4
 4 CPI Indexing of Covered Earnings                -3.6    5.8    5.1    5.3
 5 Indexing Benefits by CPI Minus 1%               -3.3    5.9    5.1    5.3
 6 Stabilize Real Per Capita Benefits               6.1    9.0    6.1    7.0
 7 Freeze Bend Points in Real Terms                -2.5    6.3    5.3    5.6
 8 Eliminate Earnings Ceiling                      -5.4    5.4    8.2    7.2
 9 Eliminate Earnings Ceiling w/o Benefit Change   -4.9    5.5    8.8    7.7
10 Increase Computation Years from 35 to 40        -4.1    5.6    5.0    5.1
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Source: Author's calculations.