The tax, as of 1862, was 3% on incomes 3% over $600 a year.

从1862年开始，其税率为年收入超过,600美元部分的。

耶鲁公开课 - 金融市场课程节选

If there's no tax advantage to one over the other it is completely neutral.

两者之间不再有税赋优惠,完全中性化了

耶鲁公开课 - 金融市场课程节选

Because of the way that we deal with taxes and mutual funds, you can get a tax bill for gains that were realized by the investment manager turning over the portfolio even though you might not have held the shares during the period when the gains were realized.

因为共同基金的收益还涉及到缴税的问题,所以你会有张税单,上面写着基金的收益部分该缴多少税,即使在实现收益的期间,你并不持有基金股份,但还是要缴税

耶鲁公开课 - 金融市场课程节选