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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Some places (America, Ireland and Spain) give tax relief on mortgage-interest payments. Others, such as Britain, eliminate or lower the tax on capital gains from sales of someone's main house.

比如美国，爱尔兰，和西班牙等这些地方减轻了贷款利率的一些税收，另外一些地方像英国减免或减低了房屋所有人在销售房屋时的资本所得税款。

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Since interest payments are tax deductible, but dividends are not, some borrowing makes a balance-sheet more efficient. Too much, though, makes a firm too risky, raising its overall cost of capital.

尽管利息支付可以扣税，而红利不可以，举债可以使资产负债表更有效率。

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Owner-occupiers typically pay no tax on capital gains and can deduct mortgage interest from their income-tax bills.

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Investors have tax on interest, dividends, 0bamacare tax, capital gains taxed at regular income, SEC fees, inflation, etc.

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No tax on capital gains, interest, etc.

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