In many countries, a small number of people earn extremely high salaries. Some people believe that this is good for the country, but others think that governments should not allow salaries above a certain level. Discuss both views and give your own opinion.

It is argued that there should be a maximum

wage

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limit on extremely high earners; others,

however

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, believe that people should have the freedom to earn as much as they can. I agree with the

second

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viewpoint On the one hand, the main reason why some people think that it is necessary to have a maximum

wage

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law is that it could help reduce the pay gap between the highest and lowest earners. The decrease in income inequality would have beneficial effects on firms and society as a whole. Companies might

cut

to a degree (not used with a negative)

quite

a huge sum spent on executives’ salaries, and

thus

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have more to invest in other important aspects,

such

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as marketing and promotions, which help increase sales figures. Many studies show that countries with a narrower income gap often have lower poverty and crime rates than those experiencing growing economic inequality. In spite of the above arguments, in my opinion, society would suffer a great deal if a maximum

wage

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legislation was adopted. Setting a limit on earnings would encourage the most skilled workers, who make significant contributions to their companies, to leave and work in a foreign country.

This

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brain drain of the top employees would cause enterprises and the economy great damage. The absence of a skilled executive,

for example

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, might cause a company a loss of thousands of dollars, and it would take quite a long time to hire another one. Another thing is that it would be almost impossible for an economy to thrive when its well-educated and skilled workforce is willing to work in another country where they are offered extraordinarily high pay packages. In conclusion, despite the arguments for a maximum

wage

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cap, I believe that governments should not set a limit on the wages of the highest earners as it would have adverse impacts on business and economic growth.