Now there's a third part of the tax code that Trump and the Republicans want to keep
现在，特朗普和共和党人想继续维持的税法法规又多了一条
and it's even better for the richest Americans than all of these deductions
而这一条给美国的富豪们带来的好处比前面所有的优惠加起来还要多
The preferred rate for capital gains.
它就是资本利得税优惠
Here's how it works:
原理如下：
According to the US tax code, there are two different kinds of income.
根据美国税法，收入分两种
Earned income is when you go to work and somebody pays you a salary or wage a paycheck.
劳动收入是你去上班，别人给你发工资或写支票
That's earned income and we have a whole set of income tax rates for that income that go up to 39.6%.
这是劳动收入，针对劳动收入我们有一系列的征税比例等级，最高可达39.6%
This is where Dan and Steve's tax rates come from.
但和史蒂夫的税率就是从这里来的
Unearned income means guys who trade paper.
非劳动收入指的是交易证券的那群人
Guys who sell stock or buy commodities and then sell it.
也就是那些买卖股票或期货的人
you know, Invest in real estate properties and then sell them.
以及买卖房地产的人
That's capital income and we tax that at a lower rate.
这属于资本收入，税率比劳动收入要低
Let's say Steve earns $500,000 a year as a surgeon
加入史蒂夫是一名外科医生，年薪50万美元
and Laurie earns the same amount as a hedge fund manager.
劳里则是一名有着同样收入的对冲基金经理
Even though their income is the same, Steve's tax rate is 39.6%
尽管两人的收入一样，但史蒂夫纳税的比例是39.6%
but Laurie's tax rate is nearly half that, 23.8%.
而劳里的纳税比例是23.8%，几乎是史蒂夫的一半
So Steve ends up with a much higher tax bill.
如此一来，史蒂夫交的税就要多得多
This is why billionaire investor Warren Buffet pays a lower tax rate than his secretary.
这就是为什么搞投资的富豪沃伦·巴菲特纳税的比例比他秘书要低的缘故

His money comes from capital gains while hers comes from a salary.
巴菲特的收入属于资本收入，而秘书的收入来自劳动收入
Debbie works just as hard as I do and she pays at twice the rate I pay.
德比工作和我一样努力，但她要交的税是我的两倍
Ronald Reagan thought the same thing.
前总统罗纳德·里根也有同样的看法
Reagan had been a very high, high bracket taxpayer.
里根纳税的比例是非常非常高的
In fact, he paid at the 90% rate in the 1950s. He was a movie star.
实际上，50年代他要交的税占了他收入的90%，那时他还是电影明星
His accountant kept telling him well sign these documents
他的会计一直跟他说，在这些文件上签上字，
and that'll shift your income from labor to capital income
你的收入就会从劳动收入变成资本收入
and Reagan saw that that was hokey. Why should that be?
但里根觉得那样是弄虚作假3B@a3wej0gT_9TC。他为什么要弄虚作假？
Reagan's landmark 1986 tax bill tax capital income and labor income at the same rate.
里根总统在1986年颁布了具有划时代意义的税收法案，这一法案确立了相同的劳动收入和资本收入纳税比例
In theory, some of those loopholes were understandable.
从理论上讲，这些漏洞有一部分是情有可原的
But in practice, they sometimes made it possible for millionaires to pay nothing,
但在实际生活中，这些漏洞有时可能导致富豪们什么税也不用交
while a bus driver was paying 10% of his salary and that's grace
而巴士司机却要交高达其收入10%的税，这还算好的
People said, "Oh my God, you can't do that.
对此，人们的反应是，“天啦，总统不能这样啊，
Then nobody will invest. Investments will plummet". It didn't.
这样就没有人投资了，投资的项目就垮了呀” 然而并没有
This chart shows the value of the S&P 500,
这张表是标准普尔500指数的变化曲线
a stock market metric that measures how well big businesses are doing.
这一指数是用来衡量大公司运作情况的一个股票指数
After Reagan raised the capital gains rate in 1986, businesses continued to prosper.
1986年里根总统提高资本收入纳税比例后，美国各行各业仍旧是一派欣欣向荣的景象
Reagan's successors, George H.W. Bush and Bill Clinton also raise taxes and the on the wealthiest Americans.
里根总统卸任后，继位的布什总统和克林顿总统也相继提高了对美国财富阶级的征税比例
And the 1990s saw America's longest period of consecutive economic growth ever.
九十年代，美国迎来了历史上最久的经济增长期
But the changes that Donald Trump and Republicans in Congress want to make to the tax code look very different.
然而，特朗普和国会中的共和党人士想要对税法做出的改变与这些措施背道而驰
While the Trump and GOP plans get rid of some deductions
尽管特朗普和大老党准备取消某些税收优惠政策，
neither gets rid of the charitable contribution or mortgage interest deductions
但公益性捐赠税收优惠和抵押税收优惠仍旧岿然不动
Both plans would lower taxes on capital income for people like Laurie the hedge fund manager.
而这两个政策都会降低对冲基金经理劳里这类人的资本收入的纳税比例
And both plans would reduce the number of tax brackets from seven to three.
同时还会把7个纳税比例等级降为3个
and cut the top tax rate.
最高税率也会因此降低
Which would mean big tax savings for someone like Steve
这也就意味着史蒂夫那样的人能够享受更多的税收优惠
and minimal savings for working and middle-class people like Dan.
而丹那样的工人阶级或中产阶级只能拿到最少的优惠
Rather than working to reduce the growing gap between the richest Americans and everyone else
这些新的税收方案不仅不会缩小美国的富豪阶级和其他人之间日益扩大的收入差距
these new tax plans would make that gap even wider.
反而会让这一差距越来越大