SMARTFLEX ALSO MEMBER OF THE IOMG FAMILY Message Board

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Non-Tech : SMARTFLEX ALSO MEMBER OF THE IOMG FAMILY

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To: Douglas V. Fant who wrote (359)	8/6/1997 9:01:00 AM
From: Joe Dancy	of 558

Doug - another plus with regard to the budget accord is that the 18 month capital gains holding period will make picking attractive stocks (versus mutual funds) much more attractive. The average mutual fund has about a 100% turnover every year - and a lot of money will be treated as short term gains (income) taxable potentially at the 39% rate, while us long term holders picking our own growth stocks and deciding when to sell will be hit with the 20% capital gains tax. Since I know you are well into the 39% income tax bracket <g>, this should be a powerful (yet to date little discussed) incentive to jump onto small and mid cap growth bandwagons. The Wall Street Journal did note the potential of this impact on page c-1 yesterday. Best - Joe

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