In this contemporary world, it is often debated topic about earnings among the people of multiple nations, a few thinks it boosts the country while others think to cease at some point. In this essay, we will discuss different views, however, I strongly believe earning high wages are helping to grow the country's economy.
A large section of people reckons that a country's GDP(Gross Domestic Product) attains a high value due to large salaries being earned by its citizens. GDP is directly proportional to the income of a country's citizens and higher GDP is indicative of economic growth. In contrast, some people feel that there should be an upper limit on a person's earnings to reduce income inequality. This is because in many countries, less than 10% of the population accounts for more than 50% of its wealth, whereas more than half of the population goes to sleep on an empty stomach. Therefore, limiting salaries is considered the need of the hour by many.
In my opinion, the earnings of an individual should not be above a maximum value. This is because I believe that a country cannot make progress if it is dealing with non-uniform income levels. How can a country grow if most of its wealth is concentrated in the hands of a few people while a majority of its citizens struggle to feed themselves? For instance, in India, more than 70% of people are below the poverty line whereas most of the country's money rests with only a few people.
To conclude, I would restate that although earning a high salary can increase a country's GDP, it will hinder its development because most of its citizens would struggle to make ends meet due to income inequality.
In this contemporary world, it is
often
debated topic about
earnings
among the
people
of multiple nations, a few
thinks
it boosts the
country
while others
think
to cease at
some
point. In this essay, we will discuss
different
views,
however
, I
strongly
believe
earning
high wages are helping to grow the
country's
economy.
A large section of
people
reckons that a
country's
GDP(Gross Domestic Product) attains a high value due to large salaries
being earned
by its
citizens
. GDP is
directly
proportional to the
income
of a
country's
citizens
and higher GDP is indicative of economic growth.
In contrast
,
some
people
feel that there should be an upper limit on a person's
earnings
to
reduce
income
inequality. This is
because
in
many
countries
, less than 10% of the population accounts for more than 50% of its wealth, whereas more than half of the population goes to sleep on an empty stomach.
Therefore
, limiting salaries
is considered
the need of the hour by
many
.
In my opinion, the
earnings
of an individual should not be above a maximum value. This is
because
I believe that a
country
cannot
make
progress if it is dealing with non-uniform
income
levels. How can a
country
grow if most of its wealth
is concentrated
in the hands of a few
people
while a majority of its
citizens
struggle to feed themselves?
For instance
, in India, more than 70% of
people
are below the poverty line whereas most of the
country's
money rests with
only
a few
people
.
To conclude
, I would restate that although
earning
a high salary can increase a
country's
GDP, it will hinder its development
because
most of its
citizens
would struggle to
make
ends
meet
due to
income
inequality.