Saving has increased since the financial crisis struck: at the end of last year the corporate funds left after capital spending, tax, interest and dividends reached 6.2% of GDP (see chart).

从金融危机出现后，储蓄就一直在增加。去年年末的企业资金在除去资本支出，税金，利息以及分红之后达到GDP的6.2%(见图表)。

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However, that all changed in 2003 with the Jobs and Growth tax Reconciliation Act of 2003, which cut the rate of taxation of dividends to 15% — the same rate that capital gains are taxed.

但在2003年这些都变了，2003年颁布的《就业与进一步减税协调法案》，将股利的税率减至15%，与资本收益的征税率相同。

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Plans on the table will hit higher-income families with tax increases on capital gains and dividends, for example.

例如，正在讨论的方案就是对高收入家庭增收资本收益和红利税。

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When Modigliani and Miller wrote, there was a differential tax rate between dividends and capital gains.

莫迪利阿尼和米勒写到,如果在股利和资本收益间,有一个随其他因素变化的税率

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Investment income is taxed once by the corporate income tax, and then by the capital gains or dividends tax when it is passed through to the individual.

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Making the Bush tax cuts permanent, as Mr. McCain has pledged to do, would leave the top individual income-tax rate at 35%, the capital gains and dividends tax rates at 15% and eliminate the repetitive death tax.

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Most of that group pays most of the state taxes, city taxes, real estate taxes, capital gains and dividends tax etc.

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