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.

A less number of
people
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
should cap the salary. In my opinion, it will demotivate the employers if the authorities
limit
the amount
people
can earn.
To begin
with, human beings always want more than what they have in life. If there is no
limit
to what they could earn,
this
motivates them to work harder. If the
government
imposes a salary
limit
, it will demotivate the citizens to work harder, which will have a negative impact on the
economy
.
Also
,
people
who can earn extremely high could provide employment opportunities to the impoverished.
Hence
, if
people
can earn without any
limit
, it will motivate them to work harder and can
also
create employment opportunities in the market.
On the contrary
, if some
people
could astronomically earn, the income inequality between the affluent and the poor will keep on growing. Income inequality is worrisome for the
economy
, and it could hinder the
economy
in the long run.
However
, the authorities could increase the amount of the tax paid by the rich, and facilitate the poor by providing various facilities,
such
as free education, health facilities, and employment opportunities.
Therefore
, the income disparity is worrisome for the
economy
, but the
government
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
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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