n many countries there is a huge income disparity among people. This is because some people are earning astronomical salaries. At the same time, there are many more who are struggling to make both ends meet. Some people, therefore, argue that the government should cap salaries. I do not agree with this view. In my opinion, this difference in salary is good for the economy because it encourages people to work harder.
If there is a limit to what people can earn, most of them will lose the motivation to work harder. The reason that encourages people to work harder and harder is their yearning to earn higher salaries. Therefore, if the government caps the salaries, it will hurt the morale of employees. Also, having a small number of people who earn too much is not necessarily a bad thing. They act as an inspiration for the poor. These super-wealthy people can also start enterprises that create jobs and improve the living standards of poor people.
Of course, income disparity is not a good thing. It makes the poor feel inadequate. But at the same time, it encourages many of them to work harder and earn more. As human beings, we have a natural tendency to want more. We get inspired by the affluent lifestyle of the rich and want to be like them. This human desire to improve their living standards is the factor that drives all economies. The government can certainly do something to lessen the disparity. For example, it can impose higher taxes on rich people. It can also launch welfare schemes for the poor. By offering free education and health care for people living below the poverty line, the government can put them in a position to work and earn.
To conclude, capping salaries is not the solution for income disparity. Instead, the government should empower the poor people and help them earn a good salary by offering them free education and training.
n
many
countries there is a huge income
disparity
among
people
. This is
because
some
people
are earning astronomical
salaries
. At the same time, there are
many
more who are struggling to
make
both ends
meet
.
Some
people
,
therefore
, argue that the
government
should cap
salaries
. I do not
agree
with this view. In my opinion, this difference in
salary
is
good
for the economy
because
it encourages
people
to
work
harder.
If there is a limit to what
people
can
earn
, most of them will lose the motivation to
work
harder
. The reason that encourages
people
to
work
harder
and
harder
is their yearning to
earn
higher
salaries
.
Therefore
, if the
government
caps the
salaries
, it will hurt the morale of employees.
Also
, having a
small
number of
people
who
earn
too much is not
necessarily
a
bad
thing. They act as an inspiration for the
poor
. These super-wealthy
people
can
also
start
enterprises that create jobs and
improve
the living standards of
poor
people
.
Of course
, income
disparity
is not a
good
thing. It
makes
the
poor
feel inadequate.
But
at the same time, it encourages
many
of them to
work
harder
and
earn
more. As human beings, we have a natural tendency to want more. We
get
inspired by the affluent lifestyle of the rich and want to be like them. This human desire to
improve
their living standards is the factor that drives all economies. The
government
can
certainly
do something to lessen the
disparity
.
For example
, it can impose higher taxes on rich
people
. It can
also
launch welfare schemes for the
poor
. By offering free education and health care for
people
living below the poverty line, the
government
can put them in a position to
work
and earn.
To conclude
, capping
salaries
is not the solution for income
disparity
.
Instead
, the
government
should empower the
poor
people
and
help
them
earn
a
good
salary
by offering them free education and training.