身边的经济学·社会常识英语30篇（2）
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Tax Wedges Reduce Labor Supply by Lowering Net Wages
税收楔子通过降低实际工资减少劳动供给
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A tax wedge is the gap between what employers pay for labor and what workers actually receive after taxes and contributions.
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When income taxes, payroll taxes, or social security levies rise, take-home pay falls even if gross wages stay constant.
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Workers respond by reducing hours or exiting the labor force entirely, especially secondary earners or near-retirement individuals.
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High marginal tax rates on additional earnings weaken the incentive to work overtime or accept promotions with modest pay bumps.
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Evidence shows labor supply elasticity is greater for women, youth, and part-time workers facing complex benefit cliffs.
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Employers may also cut hiring or shift toward automation when total labor costs—including mandated benefits—rise significantly.
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Reducing the tax wedge can increase formal employment but requires offsetting revenue measures to maintain public services.
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Some countries use earned income tax credits to narrow the wedge for low-wage workers without raising marginal rates.
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The optimal wedge balances fairness, efficiency, and fiscal needs while minimizing distortions to work decisions.
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Policy debates focus less on whether taxes exist and more on how their structure shapes labor market participation and productivity.