In many nations of the world, few individuals earn extraordinarily big salaries. While some think it is beneficial to the country, others believe that states should limit wages to a certain level. In my view, although earning extremely huge salaries by some individuals has an advantage of generating huge taxes for government, setting limits for attainable salaries is more beneficial as it reduces excesses.
On the one hand, large amount of taxes are remmited to the goverment by a small number of workers in the society who receive fat salaries. Such individuals pay more taxes to government because of the policy that the more salaries earned by workers, the more taxes they pay. For instance, Medical practitioners are one of the highest paid professionals in the health sector, and the highest tax payers. However, when it is only few people that receives extraordinary wages, others might be discouraged from putting their best in what they do.
On the other hand, setting control on the salaries individuals can receive has greater benefits as it curtails excesses that only a few are enjoying, and such is added to the wages of low-income salary earners. Also, the states can use some of the money to provide basic needs for the poor. For instance, the government of Nigeria recently cut the salaries of above level 14 workers, and used the money generated to provide a low cost housing scheme for workers below level 8. Nevertheless, this might reduce the tenacity at which workers at the managerial level discharge their duties.
In conclusion, receiving outrageous wages by the few is not bad because government gets heavy duties in return. However, I believe that the government's setting up limitation for the highest salary level an individual can attain is better as this checks excesses and makes room for other low-income salary earners to benefit more.
Comments:
In
many
nations of the world, few
individuals
earn
extraordinarily
big
salaries
. While
some
think
it is beneficial to the country, others believe that states should limit wages to a certain
level
. In my view, although earning
extremely
huge
salaries
by
some
individuals
has an advantage of generating huge
taxes
for
government
, setting limits for attainable
salaries
is more beneficial as it
reduces
excesses.
On the one hand, large amount of
taxes
are
remmited
to the
goverment
by a
small
number of
workers
in the society who receive
fat
salaries
. Such
individuals
pay more
taxes
to
government
because
of the policy that the more
salaries
earned by
workers
, the more
taxes
they pay.
For instance
, Medical practitioners are one of the highest paid professionals in the health sector, and the highest
tax
payers.
However
, when it is
only
few
people
that receives extraordinary wages, others might
be discouraged
from putting their best in what they do.
On the
other
hand, setting control on the
salaries
individuals
can receive has greater benefits as it curtails excesses that
only
a few are enjoying, and such is
added
to the wages of low-income
salary
earners.
Also
, the states can
use
some of the
money to provide basic needs for the poor.
For instance
, the
government
of Nigeria recently
cut
the
salaries
of above
level
14
workers
, and
used
the money generated to provide a low cost housing scheme for
workers
below
level
8.
Nevertheless
, this might
reduce
the tenacity at which
workers
at the managerial
level
discharge their duties.
In conclusion
, receiving outrageous wages by the few is not
bad
because
government
gets
heavy duties in return.
However
, I believe that the
government
's setting up limitation for the highest
salary
level
an
individual
can attain is better as this
checks
excesses and
makes
room for
other
low-income
salary
earners to benefit more.
Comments: