In some countries, some people get extremely high income and it is believed that this will be of great good to the country while others are of the believe that government should limit the amount of income earned in a country. Discuss both views and give your opinion

Generally, a minimum number of individuals receive very large income pay in some nations. The reason behind

this

could be attributed to some factors. I am strongly in support of the opinion that being entitled to a large income by a few members of the society will be of great benefits to a nation; meanwhile, some other hold firmly to the believe; that government should regulate and place restrictions on the amount of salaries one is entitled to.

To begin

with, there will be a drastic increase in the economy of a country, particularly in the area of infrastructure.

This

is because, tax will be remitted on pay as you earn; in that case citizens whose wages are robust will in return increase a country's revenue. An example of

this

, is the recent study carried out by the Texas research committee. Where it was shown that 70% of tax makes up the United States net worth.

However

, the opposition view which believes that, wages should be regulated could be tied to societies with very low minimum wage. The idea that some citizens are paid below the standard requirements while others are over paid has a huge impact on its net worth. The resulting effect of

this

can lead to abject poverty and high crime rate. Nigeria is a typical example based on the

last

study carried out; it was ranked 3rd poor nation.

Secondly

, creative innovations will be supported and encouraged. In conclusion, very high income will not only be beneficial to a society, but

also

to the members who will live happily and comfortably.

Therefore

, administrative authorities should encourage foreign investment within its territory.