TABLE THREE

CORPORATE TAX LOSS DUE TO INCREASED FICA SINCE 1970

(IN MILLIONS $'s)

YEAR INCOME SUBJECT TO FICA THIS MORE FICA LOST CORPORATE PROFITS SSA RATE OF RETURN LOST FEDERAL CORPORATE TAXES COST PLUS INTEREST TO U.S. TREASURY
1970 $414,466 $0 4.67% $0 $0
1971 $416,333 0.40% $1,665 4.93% $500 $511
1972 $466,432 0.40% $1,866 5.08% $560 $1,111
1973 $534,593 1.05% $5,613 5.28% $1,684 $2,896
1974 $595,211 1.05% $6,250 5.72% $1,875 $4,991
1975 $649,326 1.05% $6,818 6.39% $2,045 $7,426
1976 $724,137 1.05% $7,603 6.50% $2,281 $10,273
1977 $795,109 1.05% $8,349 6.85% $2,505 $13,585
1978 $882,702 1.25% $11,034 7.30% $3,310 $18,033
1979 $1,015,231 1.33% $13,503 7.29% $4,051 $23,581
1980 $1,144,425 1.33% $15,221 8.08% $4,566 $30,299
1981 $1,304,543 1.85% $24,134 9.59% $7,240 $40,901
1982 $1,351,617 1.90% $25,681 3.83% $7,704 $50,334
1983 $1,456,179 2.08% $30,216 34.09% $9,065 $81,068
1984 $1,578,096 2.20% $34,718 8.36% $10,415 $98,932
1985 $1,701,519 2.25% $38,284 5.22% $11,485 $115,986
1986 $1,834,048 2.35% $43,100 7.85% $12,930 $138,835
1987 $1,949,375 2.35% $45,810 7.55% $13,743 $163,911
1988 $2,015,570 2.85% $57,444 7.35% $17,233 $194,207
1989 $2,194,693 2.85% $62,549 7.73% $18,765 $229,204
1990 $2,346,754 2.85% $66,883 7.64% $20,065 $268,122
1991 $2,391,000 2.85% $68,144 7.78% $20,443 $310,920
1992 $2,464,842 2.85% $70,248 7.61% $21,074 $357,266
1993 $2,551,798 2.85% $72,726 7.32% $21,818 $406,870
1994 $2,573,009 2.85% $73,331 7.24% $21,999 $460,082
1995 $2,672,105 2.85% $76,155 7.16% $22,847 $517,728
1996 $2,820,675 2.85% $80,389 6.95% $24,117 $579,758
1997 $3,069,702 2.85% $87,487 6.75% $26,246 $647,230
1998 $3,069,702 2.85% $87,487 6.75% $26,246 $719,404