This was the first of many exchanges we would have about the power over the lives of ordinary Americans exercised by thirty-year-old bond traders.

三十来岁的债券交易商对普通美国人的生活有巨大的影响。我们这是第一次就此交换意见，以后这样的交流还有一些。

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Elysee advisers talk instead of a "people's bond" that ordinary citizens can subscribe to, knowing-unlike with normal bonds-just what the money will go on.

爱丽舍宫的顾问们谈到这个计划时，没有说到这是普通公民可以认购的“人民债券”，而和普通债券不同，他们仿佛只知道这笔钱会用于何处。

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As a result a bond's interest payments form an ordinary annuity for the life of the bond.

由于债券的利息支付形式普通年金生活的纽带。

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But anyone investing in such bonds should try to do so in a tax shelter like an IRA or 401(k), as bond coupons are taxable as ordinary income.

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The tax on stock dividends could approach ordinary income rates just like current tax rates on bond coupons.

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While the 15% rate applies to most corporate payouts, that's not the case for most real estate investment trust dividends or for bond fund dividends, which are really interest and are taxed at ordinary income rates of up to 35%.

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