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To: Hawkmoon who wrote (27764)	2/4/1999 11:27:00 PM
From: Little Joe	Respond to of 116957

Ron: I agree completely this is an overbought market and much of the "savings" that are in stock will probably be lost. Nonetheless there is an awful lot of money in IRA's, etc. which do represent savings. There are other consequences. My experience has been that people who have large IRA's tend to want their money to stay in the IRA for as long as possible. They wait until they are forced to take the money out and then only the minimum amount. This means that much of this wealth will pass to their kids. It also means that the government will collect huge revenues from these IRA's. There is in some cases a double tax hit which can sometimes be in the 80 percent range. The bottom line is that there is an awful lot of IRA money that will come out and be taxed and that the government will be the beneficiary of huge revenues. I am not sure what this means for the economy or the market but it is coming. Live long and prosper, Little joe