Efficiency is sacrificed because the phase out raises effective marginal tax rates and because the higher future taxes that result from the extra government debt will likely be distortionary.

• 之所以说牺牲了效率，是由于逐渐淘汰（Phase-out）的税式支出方式，提高了实际的边际税率。同时由于额外的政府债务会导致未来更高的税收，这可能带来一定的扭曲。