And if they want to spend it on compensation or stock buybacks or dividends, let them pay the long-term capital gains rate.

如果他们将钱花在补偿、股票回购或分红上面，则可以要求他们支付长期资本收益税金。

youdao

The lower rate on capital gains and dividends also mostly benefits the rich.

资本增值和资本股息的低税率主要有利于富裕人群。

youdao

Of course, the short-term interest rate isn't the cost of capital; the long-term interest rate is.

当然，短期利率不是资金成本；长期利率才是。

youdao

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

耶鲁公开课 - 金融市场课程节选

It was--Modigliani and Miller said back then-- this was thirty or forty years ago-- that companies should really not pay dividends because dividends were then taxed at a higher rate than capital gains.

莫迪利阿尼和米勒说在那时候,大概30或40年前,公司不应分配股利,因为对股利征税的税率比对资本收益高

耶鲁公开课 - 金融市场课程节选

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

耶鲁公开课 - 金融市场课程节选

The new higher 20% capital gain rate plus the 3.8% Obamacare tax makes a top long term capital gain rate of 23.8%.

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This is why over the last 45 years every time the capital gains tax rate has been raised, capital gains revenues have declined, and every time the capital gains tax rate has been cut, capital gains revenues have risen.

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But what Obama is proposing would actually double the capital gains tax rate to 30%, leaving America with the third highest capital gains rate in the developed world.

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