The exorbitant earning of the people has become mooted issue. Some intellectuals consider it as a positive impact on a nation, whereas others opine that the regime ought to regulate the income of their citizens to certain limits. The essay will discuss both the views of the above notion along with my opinion in the following paragraphs.
To begin with, the former view, the soaring wages of the people brings many benefits to the country, such as improving the standard of living and healthy revenue from the taxation. The members of the society consist of a wealthy incomeincome could utilise all the facilities to improve their standard of living. On the other hand, the local authorities would get a better revenue collection from their citizens. As a result, the infrastructure and the economy of the country will grow at a sustainable pace. For example, in developing countries the population average income is higher than developing countries, thus their infrastructure and standard of living is good.
However, a few intellectuals believe that the exponential rise in salaries of few people could emerge the issue of inflation in the society. The people consisting higher wages are not bothering about the rising prices of commodities. Hence, their unsustainable consumption of goods and the natural resources introduces inflation in the market. Moreover, this inflation affects the rest of the population consists of lower salaries; and rich get richer and poor get poorer. Likewise the nation will not only suffering from the poverty but also its economy might slow down. For instance, in many developing country the most changing economic problems are poverty and inflation, which is the by-product of unequal income of their citizens.
In my opinion, the increasing salaries of the people are good for the economy of the country. However, the country should impose fiscal policy to uplift the standard of living of their population and to curb the inflation.
In conclusion, the level of income of an individual is very crucial for the nation. Although the economy of the country has become stronger due to higher salaries of the few people, some section of the society is still lacking in fulfilling their basic needs. The government should form a revolutionary taxation strategy to overcome this situation.
The exorbitant earning of the
people
has become mooted issue.
Some
intellectuals consider it as a
positive
impact on a nation, whereas others opine that the regime ought to regulate the
income
of their citizens to certain limits. The essay will discuss both the views of the above notion along with my opinion in the following paragraphs.
To
begin
with, the former view, the soaring wages of the
people
brings
many
benefits to the
country
, such as improving the
standard
of
living
and healthy revenue from the taxation. The members of the society consist of a wealthy
incomeincome
could
utilise
all the facilities to
improve
their
standard
of
living
.
On the other hand
, the local authorities would
get
a better revenue collection from their citizens.
As a result
, the infrastructure and the
economy
of the
country
will grow at a sustainable pace.
For example
, in developing
countries
the population average
income
is higher than developing
countries
,
thus
their infrastructure and
standard
of
living
is
good
.
However
, a few intellectuals believe that the exponential rise in
salaries
of few
people
could emerge the issue of
inflation
in the society. The
people
consisting higher wages are not bothering about the rising prices of commodities.
Hence
, their unsustainable consumption of
goods
and the natural resources introduces
inflation
in the market.
Moreover
, this
inflation
affects the rest of the population consists of lower
salaries
; and rich
get
richer and poor
get
poorer.
Likewise
the nation will not
only
suffering
from the poverty
but
also
its
economy
might slow down.
For instance
, in
many
developing
country
the most changing economic problems are poverty and
inflation
, which is the by-product of unequal
income
of their citizens.
In my opinion, the increasing
salaries
of the
people
are
good
for the
economy
of the
country
.
However
, the
country
should impose fiscal policy to uplift the
standard
of
living
of their population and to curb the inflation.
In conclusion
, the level of
income
of an individual is
very
crucial for the nation. Although the
economy
of the
country
has become stronger due to higher
salaries
of the few
people
,
some
section of the society is
still
lacking in fulfilling their basic needs. The
government
should form a revolutionary taxation strategy to overcome this situation.