The economic gap between rich and poor has increased by great means over the last few decades. This leads to some people think that there should be capping of salaries by the government while others believe that having high wages reflects the good side of the nation by showing various means available in the country to earn. In my opinion, the government should not impose any restrictions on the incomes of people.
The group of people who support the idea of income capping by the administration, gives arguments that the economic disparity between the rich and the poor can be decreased, which in turn provide social security to poor from the unfair means. They are of the view that the extreme riches can do more harm than good. For example, the rich can get their jobs done by using position and money, which encourages corruption in various departments. They also believe that it leaves poor people earning lesser salaries with the feeling of inadequacy.
On the other hand, people believe higher earnings are good for the nation. People regard bigger salaries as rewards for their talents. Putting caps on income will diminish the productivity of the workers as they won't feel motivated to work hard. The reason being that it is human tendency to expect good payoffs for putting in lots of effort in their jobs. They won't feel appreciated for their talents and hence will search for better work opportunities abroad. Good earning people also contribute to the economy of the country as the buying capacity of the people is, in turn, increased. Wages are the rewards and appreciations earned by putting hard work and efforts. There are several other ways to control economic gap. The governments can impose higher tax rates for higher incomes. The administration must try to provide better education and training facilities to poor instead of capping the salaries.
To sum up, economic disparity is not a good thing, but limiting income is not the solution to it. Rather, governments should create better earning means for the poor by offering free education etc.
The
economic
gap between
rich
and
poor
has increased by great
means
over the last few decades. This leads to
some
people
think
that there should be capping of salaries by the
government
while others believe that having high wages reflects the
good
side of the nation by showing various
means
available in the country to earn. In my opinion, the
government
should not impose any restrictions on the
incomes
of
people
.
The group of
people
who support the
idea
of
income
capping by the administration, gives arguments that the
economic
disparity between the
rich
and the
poor
can
be decreased
, which in turn provide social security to
poor
from the unfair
means
. They are of the view that the extreme
riches
can do more harm than
good
.
For example
, the
rich
can
get
their jobs done by using position and money, which encourages corruption in various departments. They
also
believe that it
leaves
poor
people
earning
lesser salaries with the feeling of inadequacy.
On the other hand
,
people
believe higher
earnings
are
good
for the nation.
People
regard bigger salaries as rewards for their talents. Putting caps on
income
will diminish the productivity of the workers as they won't feel motivated to work
hard
. The reason being that it
is human
tendency to
expect
good
payoffs for putting in lots of effort in their jobs. They won't feel appreciated for their talents and
hence
will search for better work opportunities abroad.
Good
earning
people
also
contribute to the economy of the country as the buying capacity of the
people
is, in turn, increased. Wages are the rewards and appreciations earned by putting
hard
work and efforts. There are several other ways to control
economic
gap. The
governments
can impose higher tax rates for higher
incomes
. The administration
must
try to provide better education and training facilities to
poor
instead
of capping the salaries.
To sum up,
economic
disparity is not a
good
thing,
but
limiting
income
is not the solution to it.
Rather
,
governments
should create better
earning
means
for the
poor
by offering free education etc.