In many countries, a small number of people earn extremely high salaries. Some people believe that this is good for the country, but others think that governments should not allow salaries above a certain level. Discuss both these views and give your own opinion.

Most nations consist of a proportion of people earning higher incomes, as compared to the rest.

As a result

of

this

, there is a mixed opinion among the general public, as some believe

this

trend is beneficial for the country, whereas others think the authorities should regulate the distribution of salaries. Throughout

this

essay, I will discuss both viewpoints and share my opinion on the subject matter. A country's status of development is influenced by the percentage of millionaires residing there. As

this

number increases, the overall contribution made to the economy's growth

also

surges.

For instance

, The USA is one of the leading economic powerhouses of the world.

This

is

as a result

of an efficient taxation system deployed there. Since the country enjoys the maximum number of wealthy people, the government has introduced a system based on a flat tax rate i.e. same rate for everyone.

This

means the more you earn, the more taxes you will have to pay. Thereby, helping in the

nation building

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nation-building

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process by procuring more money from the wealthier population.

On the other hand

, the trend has resulted in the growing monopoly of individuals and businesses across the world. As the wealth grows, people began asserting more pressure on the authorities to develop policies favouring them. Recently, a company named Reliance India pressurised the working government to pass a certain bill, giving them the functional authority to distribute the 5G network, pushing their counterparts out of the competition.

Hence

, it has become imperative for

the

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civil

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civic

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bodies to develop strategies and policies to counter

this

trend. In conclusion, both viewpoints are completely justified in their own terms. In my

opnion

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opinion

, there should be a wage gap between the individuals as the laws of economics are governed by the supply and demand principle.

Hence

, it is evident for

such

a gap to exist.