In some countries, a few people earn extremely high salaries. Some people think that this is good for a country, while others believe that the government should control salaries and limit the amount people can earn. Discuss both sides and express your opinion.
In many countries, there is a huge income disparity among people. This is because some people are earning astronomical salaries. At the same time, there are many more who are struggling to make both ends meet. Some people, therefore, argue that the government should cap salaries. I do not agree with this view. In my opinion, this difference in salary is good for the economy because it encourages people to work harder. If there is a limit to what people can earn, most of them will lose the motivation to work harder. The reason that encourages people to work harder and harder is their yearning to earn higher salaries. Therefore, if the government caps the salaries, it will hurt the morale of employees. Also, having a small number of people who earn too much is not necessarily a bad thing. They act as an inspiration for the poor. These super-wealthy people can also start enterprises that create jobs and improve the living standards of the poor people. Of course, income disparity is not a good thing. It makes the poor feel inadequate. But at the same time, it encourages many of them to work harder and earn more. As human beings, we have a natural tendency to want more. We get inspired by the affluent lifestyle of the rich and want to be like them. This human desire to improve their living standards is the factor that drives all economies. The government can certainly do something to lessen the disparity. For example, it can impose higher taxes on rich people. It can also launch welfare schemes for the poor. By offering free education and health care for people living below the poverty line, the government can put them in a position to work and earn. To conclude, capping salaries is not the solution for income disparity. Instead, the government should empower the poor people and help them earn a good salary by offering them free education and training.
Submitted by sajan nagi on