Why has the effective capital gains tax rate tended to be substantially lower than the dividend tax

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Why has the effective capital gains tax rate tended to be substantially lower than the dividend tax rate in the United States? Given that this disparity exists, why do so many firms pay dividends?
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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