Some people believe that the difference between the lowest paid jobs and the highest paid jobs should be reduced. To what extent do you agree or disagree?

Income inequality is a major global concern. Some people are of the opinion that the difference in income, between the highest paid worker and the lowest paid worker, should be lessened. This essay will argue why I completely agree with this opinion and provide reasons for the same. Reducing the difference in wages between the highest paid job and the lowest paid job will improve the living standards of the extreme poor. The extra income will enable these people to meet their basic needs. Although the rich will crib with the reduced income, their living standards will not take a big hit. For Example: The increased income for a poor homeless man may enable him to rent a single room while the reduced income of an affluent man may force him to move from a 5-bedroom house, which he does not need, to a slightly smaller house. The benefits for the poor far outweigh the slight discomfort caused to the rich. Another advantage of reducing the difference in pay, will be a better distribution of wealth among society. Currently, the difference in income between the extreme rich and the extreme poor is huge. This results in the rich becoming richer and the poor becoming poorer over a period of time. For Example: As of today, the richest 10% of the world’s population earn 80% of the world’s total wealth. While the rest 90%, have to share the remaining 20% of the wealth. This step will help in a fairer distribution of wealth. In conclusion, the difference in pay between the highest paid jobs and the lowest paid jobs is already very high. This essay discussed the two main benefits of reducing this gap, both on an individual and society level. In my opinion this reduction in income imbalance is an absolute necessity in current times.