A reasonable number of people are paid extremely high in many countries. While some people argue that it is beneficial for the overall development of the
, others are of the opinion that the government should cap salaries / put a cap on the remuneration. I do not agree with
view. In my view, if salaries are high, the country will progress faster.
On the one hand, people believe that enormous salaries immensely benefit the
and I agree. If people earn more, they can contribute more to the government through their taxes.
tax amount can be used for the welfare of the citizens through schemes
as free education and better infrastructure that can increase the standards of living. Another reason for supporting astronomical pay cheques is that it deters talented people from leaving their country. Let us consider India as an example. Earlier, the average salary of an Indian was sufficient only to take care of his own needs.
, in the
two decades, the situation has improved tremendously after the boom in the IT sector. India is generating significant revenue through
is being spent on medical and engineering
a scientist who devotes himself to doing research
On the other hand
, some people insist that government authorities must impose an upper limit on earnings. They believe that high salaries of a few people can cause societal imbalance.
In other words
, it will result in a massive discrimination in the society because the affluent people tend to exercise control over the lower class.
becomes a breeding ground for illegal activities and terrorism.
will not only destruct the reputation of the
impede foreign investments and other trades.
, people think that if there is an upper limit on an individual’s income, equality will prevail in the community and citizens can live in harmony.
In conclusion, despite contrasting views, I believe that for the development of a
, higher salaries are imperative.
will induce better revenues
to deterring the skilled people from leaving their country.