Just under a quarter of the millionaires pay as little, or less, than that median, a phenomenon almost entirely due to the lower rate levied on capital gains and dividends.

少于四分之一的富翁要比中产付的还要少，这个情况完全是由于对资本收益税和股息税税率过低造成的。

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For example, when banks lend moneyto the firm, they insist on a formal contract stating the rate of interest andrepayment dates, perhaps placing restrictions on dividends or additionalborrowing.

例如，当银行借钱给公司，他们会要求公司提供一份声明贷款利率和还款期限的正式合同，可能还会在分红或者额外贷款中附加限制条件。

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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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What's the tax rate of dividends today?

现在的股息税税率是多少呢

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

In 1998, rich Americans faced a marginal tax rate on dividends of over 46%.

ECONOMIST: Economics focus

When presented separately like this, the additional rate of return from dividends for CSX Corp shareholders becomes undeniably evident.

FORBES: CSX Corp Offers Above-Market Yield And Growth At An Attractive Valuation

The historic Tax Reform Act of 1986 that Republican icon Ronald Reagan pushed through had a top tax rate for long term gains and for dividends of 28%, the same rate as for ordinary wage income.

FORBES: If Newt Had His Way, Mitt Would Pay Closer To 0% Tax