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.

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A less number of
people
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can earn astronomical salaries in some countries. It is thought by some that earning extremely high salaries benefits the country, while others believe that the
government
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should cap the salary. In my opinion, it will demotivate the employers if the authorities
limit
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the amount
people
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can earn.
To begin
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with, human beings always want more than what they have in life. If there is no
limit
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to what they could earn,
this
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motivates them to work harder. If the
government
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imposes a salary
limit
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, it will demotivate the citizens to work harder, which will have a negative impact on the
economy
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.
Also
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,
people
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who can earn extremely high could provide employment opportunities to the impoverished.
Hence
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, if
people
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can earn without any
limit
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, it will motivate them to work harder and can
also
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create employment opportunities in the market.
On the contrary
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, if some
people
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could astronomically earn, the income inequality between the affluent and the poor will keep on growing. Income inequality is worrisome for the
economy
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, and it could hinder the
economy
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in the long run.
However
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, the authorities could increase the amount of the tax paid by the rich, and facilitate the poor by providing various facilities,
such
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as free education, health facilities, and employment opportunities.
Therefore
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, the income disparity is worrisome for the
economy
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, but the
government
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could increase the amount of tax paid by the rich, and provide different benefits to the poor. To conclude, capping the salary does not necessarily benefit the country. The
government
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could charge higher taxes to those who earn more and provide different facilities to the poor.
Submitted by devina on

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Topic Vocabulary:
  • wealth inequality
  • economic growth
  • motivation
  • talent acquisition
  • consumer spending
  • tax revenue
  • redistributing wealth
  • market forces
  • income disparity
  • social stability
  • freedom of choice
  • meritocracy
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