Income disparity is very high in some of the countries around the world. Government control on such disparity through income ceiling enforcement is expected by some, while others believe ceiling free salary is more beneficial to the nation. Both views have their own merits and demerits. In my view, having no ceiling on income is better for the country as a whole, as higher salary results in higher economic gains.
When a nation has no ceiling on income, it can attract more talented individuals, both from home and abroad. The person drawing a higher salary will also feel encouraged to make investments in interest bearing mutual funds or fixed deposits. This will result in the money going back into the economy. Also, higher revenue means higher taxes and a higher net gain from other indirect taxes.
On the other hand, a nation choosing to impose a ceiling on the revenue of individuals, will discourage talented individuals. Someone who is able to draw a higher salary will eventually decide to move abroad. This may cause significant brain drain from the country, leading to a situation where there is no longer available workforce suitable for the growth of the economy. Ultimately the country will suffer economically and will also have a negative social impact.
In the end, based on the above discussions, I feel the positives of having an open income ceiling is more than that of having any sort of control over it by the government. Ceiling free revenue encourages optimism among the workforce and act as encouragement for striving for their own betterment.
Income
disparity is
very
high in
some of the
countries
around the world.
Government
control on such disparity through
income
ceiling
enforcement is
expected
by
some
, while others believe
ceiling
free
salary
is more beneficial to the nation. Both views have their
own
merits and demerits. In my view, having no
ceiling
on
income
is better for the
country
as a whole, as higher
salary
results in higher economic gains.
When a nation has no
ceiling
on
income
, it can attract more talented individuals, both from home and abroad. The person drawing a higher
salary
will
also
feel encouraged to
make
investments in interest bearing mutual funds or
fixed
deposits. This will result in the money going back into the economy.
Also
, higher revenue means higher taxes and a higher net gain from other indirect taxes.
On the other hand
, a nation choosing to impose a
ceiling
on the revenue of individuals, will discourage talented individuals. Someone who is able to draw a higher
salary
will
eventually
decide to
move
abroad. This may cause significant brain drain from the
country
, leading to a situation where there is no longer available workforce suitable for the growth of the economy.
Ultimately
the
country
will suffer
economically
and will
also
have a
negative
social impact.
In the
end
, based on the above discussions, I feel the positives of having an open
income
ceiling
is more than that of having any sort of control over it by the
government
.
Ceiling
free revenue encourages optimism among the workforce and act as encouragement for striving for their
own
betterment.
4Linking words, meeting the goal of 7 or more
20Repeated words, meeting the goal of 3 or fewer
1Mistakes