The economic differences in the society create inequality among the people. The differences between the rich people and the poor people’s income are increasing in the recent years. The reason for them can be classified into the improper government policies and the individual's talents.
Tax policies introduced by the governments are favourable for the high net worth people to evade the tax. For instance, entrepreneurs have different tax slabs that make them avail tax exemptions like, opening an office in a special economy zone can result in good savings and increase in profit. However, we cannot discount the individual talents in making enormous profits.
Talent is something that can be acquired by experience or inherited from the family. There are several startup companies created by talented individuals who make it to the rich people category in a matter of few years. In addition, there are few interesting people from the wealthy segment who use their talents to bridge the income gap between the rich and poor.
For example, the companies like Microsoft and Google are spending the hard earned money for the betterment of the society by investing in child education and infrastructure. If all the organisations and the individuals spend a fraction of their enormous income in the country's infrastructure, education and economic growth, then there are bright chances to fill in the gap of the income difference.
I firmly believe that rich people spending the money on improving the lifestyle of poor people and better government tax policies will increase the chances of closing the income difference between the rich and poor.
The economic differences in the society create inequality among the
people
. The differences between the
rich
people
and the poor
people’s
income
are increasing in the recent years.
The
reason for them can
be classified
into the improper
government
policies and the individual's talents.
Tax policies introduced by the
governments
are
favourable
for the high net worth
people
to evade the
tax
.
For instance
, entrepreneurs have
different
tax
slabs that
make
them avail
tax
exemptions like, opening an office in a special economy zone can result in
good
savings and increase in profit.
However
, we cannot discount the individual talents in making enormous profits.
Talent is something that can
be acquired
by experience or inherited from the family. There are several startup
companies
created by talented individuals who
make
it to the
rich
people
category in a matter of few years.
In addition
, there are few interesting
people
from the wealthy segment who
use
their talents to bridge the
income
gap between the
rich
and poor.
For example
, the
companies
like Microsoft and Google are spending the
hard earned
money for the betterment of the society by investing in child education and infrastructure. If all the
organisations
and the individuals spend a fraction of their enormous
income
in the country's infrastructure, education and economic growth, then there are bright chances to fill in the gap of the
income
difference.
I
firmly
believe that
rich
people
spending the money on improving the lifestyle of poor
people
and better
government
tax
policies will increase the chances of closing the
income
difference between the
rich
and poor.