Appendix Table  24:
The Impact of Potential OASI Reforms on Implicit Wealth Tax Rates
                     Non-White, Non-College-Educated Women (r=5%)

Quintile of Lifetime Earnings:                   Lowest  Middle Highest  All 

                                                      Birth Cohort 1945-49

 0 Current Rules                                  -45.2   60.0   66.2   56.4
 1 38% Tax Hike Beginning in Year 2000            -42.6   61.3   67.7   58.0
 2 25% Benefit Cut Beginning in Year 2000          -8.3   70.3   74.7   67.4
 3 Acclerated Increase in NRA                     -23.1   66.6   73.7   64.6
 4 CPI Indexing of Covered Earnings               -31.4   63.1   68.2   59.9
 5 Indexing Benefits by CPI Minus 1%              -28.8   64.6   69.3   60.7
 6 Stabilize Real Per Capita Benefits             -27.7   64.8   70.0   61.6
 7 Freeze Bend Points in Real Terms               -41.3   61.2   67.6   57.8
 8 Eliminate Earnings Ceiling                     -45.3   60.0   66.3   56.6
 9 Eliminate Earnings Ceiling w/o Benefit Change  -45.2   60.0   70.0   57.3
10 Increase Computation Years from 35 to 40       -38.1   61.6   67.4   58.1
  
                                                      Birth Cohort 1970-74

 0 Current Rules                                  -84.0   54.5   75.3   59.4
 1 38% Tax Hike Beginning in Year 2000            -50.2   64.3   80.5   67.9
 2 25% Benefit Cut Beginning in Year 2000         -37.9   66.4   81.5   69.8
 3 Acclerated Increase in NRA                     -66.5   61.3   79.6   65.5
 4 CPI Indexing of Covered Earnings               -67.4   58.5   76.8   62.8
 5 Indexing Benefits by CPI Minus 1%              -59.2   60.1   78.1   64.1
 6 Stabilize Real Per Capita Benefits             -17.7   71.9   84.8   75.0
 7 Freeze Bend Points in Real Terms               -71.5   59.5   78.7   64.1
 8 Eliminate Earnings Ceiling                     -84.5   53.0   76.4   61.2
 9 Eliminate Earnings Ceiling w/o Benefit Change  -84.0   54.5   82.4   64.4
10 Increase Computation Years from 35 to 40       -75.4   56.2   75.7   60.8
  
                                                      Birth Cohort 1995-00

 0 Current Rules                                  -29.6   55.6   79.4   63.0
 1 38% Tax Hike Beginning in Year 2000              6.0   67.8   85.0   73.2
 2 25% Benefit Cut Beginning in Year 2000           2.9   67.0   84.5   72.4
 3 Acclerated Increase in NRA                     -14.5   62.4   82.8   68.8
 4 CPI Indexing of Covered Earnings               -15.9   59.6   80.5   66.3
 5 Indexing Benefits by CPI Minus 1%              -14.4   59.9   81.6   67.0
 6 Stabilize Real Per Capita Benefits              61.4   89.1   94.8   90.5
 7 Freeze Bend Points in Real Terms               -11.8   64.0   83.7   70.3
 8 Eliminate Earnings Ceiling                     -29.7   55.1   80.6   65.9
 9 Eliminate Earnings Ceiling w/o Benefit Change  -29.2   55.6   85.1   68.3
10 Increase Computation Years from 35 to 40       -23.2   57.3   79.7   64.3
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Source: Author's calculations.