Total return is the return on investing stocks or securities. It also refers to the dividend plus any capital gains or losses achieved by the stock or securities holder in the holding period.

股票或债券对投资者的总回报，股票或债券持有者在持有期所获得的股息或利息收入总和。

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When capital gains taxes are lower, the expected return on capital is higher and stimulates more investment activity.

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It will run up transaction costs and force unwanted capital gains on you--gains that have to go on your tax return, unless you are investing through a retirement plan.

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Since the capital gains tax reduces the final return on investment it affects investment decisions.

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