Appendix Table  20:
The Impact of Potential OASI Reforms on Implicit Wealth Tax Rates
                              Non-White (r=5%)                   

Quintile of Lifetime Earnings:                   Lowest  Middle Highest  All 

                                                      Birth Cohort 1945-49

 0 Current Rules                                  -37.4   65.8   74.7   67.1
 1 38% Tax Hike Beginning in Year 2000            -34.8   66.8   75.8   68.2
 2 25% Benefit Cut Beginning in Year 2000          -2.6   74.6   81.1   75.4
 3 Acclerated Increase in NRA                     -15.8   72.2   80.8   74.1
 4 CPI Indexing of Covered Earnings               -24.3   68.6   76.3   69.7
 5 Indexing Benefits by CPI Minus 1%              -22.2   69.3   77.1   70.3
 6 Stabilize Real Per Capita Benefits             -20.8   69.9   77.7   71.1
 7 Freeze Bend Points in Real Terms               -33.4   66.8   75.8   68.3
 8 Eliminate Earnings Ceiling                     -37.5   65.8   74.5   67.1
 9 Eliminate Earnings Ceiling w/o Benefit Change  -37.4   65.8   75.8   67.6
10 Increase Computation Years from 35 to 40       -30.6   67.1   75.4   68.4
  
                                                      Birth Cohort 1970-74

 0 Current Rules                                  -16.7   58.7   76.6   67.5
 1 38% Tax Hike Beginning in Year 2000              3.9   67.5   81.5   74.3
 2 25% Benefit Cut Beginning in Year 2000          12.5   69.4   82.5   75.7
 3 Acclerated Increase in NRA                      -3.3   65.6   80.8   72.9
 4 CPI Indexing of Covered Earnings                -5.4   62.4   78.1   70.2
 5 Indexing Benefits by CPI Minus 1%               -2.5   63.1   79.0   70.9
 6 Stabilize Real Per Capita Benefits              26.7   75.0   85.7   80.2
 7 Freeze Bend Points in Real Terms                -8.5   63.5   79.8   71.4
 8 Eliminate Earnings Ceiling                     -19.0   57.8   78.1   69.8
 9 Eliminate Earnings Ceiling w/o Benefit Change  -16.7   58.8   84.1   73.5
10 Increase Computation Years from 35 to 40       -11.0   60.3   77.1   68.6
  
                                                      Birth Cohort 1995-00

 0 Current Rules                                  -14.3   60.6   79.5   68.3
 1 38% Tax Hike Beginning in Year 2000             17.1   71.5   85.1   77.0
 2 25% Benefit Cut Beginning in Year 2000          14.4   70.7   84.6   76.4
 3 Acclerated Increase in NRA                        .3   67.4   82.9   73.6
 4 CPI Indexing of Covered Earnings                -2.0   64.0   80.8   71.0
 5 Indexing Benefits by CPI Minus 1%               -1.2   64.2   81.5   71.5
 6 Stabilize Real Per Capita Benefits              67.6   90.3   94.8   92.0
 7 Freeze Bend Points in Real Terms                 1.7   67.9   83.9   74.8
 8 Eliminate Earnings Ceiling                     -16.4   60.5   81.5   71.1
 9 Eliminate Earnings Ceiling w/o Benefit Change  -14.1   60.7   85.2   73.2
10 Increase Computation Years from 35 to 40        -8.2   62.1   79.8   69.4
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Source: Author's calculations.