In countries some countries, a few people earn extremely high salaries. Some people think that is good for a country, while others believe that the government should control salaries and limit the amount people can earn. Discuss both views and give your opinion.

In some developed countries, we usually see a set of populations earning really high incomes. While some people think that
this
trend is beneficial for a nation, while others opine that the officials should take necessary actions and keep an upper limit of how much someone can earn. In my opinion, earning is very personal and it depends on the individual's skills & abilities and the law doesn't have any right to curb the income of any person for their hard work. On the one hand, if the citizen's of a
country
earn more, it is beneficial in many ways.
Firstly
, the government receives more taxes from
this
high-income group of society which it can effectively utilize for the improvement of the
country
.
Additionally
, the overall revenue of a
country
increases with the tax collected
thus
improving the standard of living of all the citizens.
Secondly
, the public who earn well
,
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apply
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usually invests their money in providing their children with the best education .
This
way the literacy rates can
also
be improved.
Moreover
,
such
folks can be really helpful in the time of crisis as they readily donate their funds which will be useful for the people in need.
On the other hand
, if there is no limit on what people earn, there are chances of them getting involved in illegal transactions to avoid paying taxes which could affect the
country
's economy negatively.
However
,
such
situations are very unlikely to happen, as there will be strict laws and regulations in most countries.
Moreover
, an individual's earning capability depends on their education, skills & capabilities and the ministry do not possess any right to curb those opportunities In my view,
although
there could be some detrimental impacts on not having a slab on how much someone can earn, those effects can be mitigated effectively with the help of strict rules and regulations and they usually do not pose a threat to any
country
.
However
, society earning more contribute to a larger extent to the government and the society
thus
helping the overall development of a
country
.
Submitted by potukurudurgacharan 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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