Some individuals believe that the minority of people who can make roaring profits are beneficial for their nations, whereas others advocate for the governments’ disallowance of salaries exceeding a certain level. This essay will delve into both viewpoints before elaborating on my approval of the latter statement.
On the one hand, a few people earning remarkably high salaries can significantly contribute to the national economic growth. Due to their handsome salaries, they have to pay more generous taxes to the government, which can be invested in other spending, including healthcare, education, and even infrastructure. This feature can enhance the living standards and the representative image of the countries, translating to the overall development. Moreover, the remarkable salaries of people in some countries can offer incentives that motivate others to strive for economic breakthroughs. The financial background with distinguished individuals may serve as a magnet that can attract other outstanding scholars or investors to study and exchange with that nation, reinforcing the intercultural program and economic growth among countries.
On the other hand, it is crucial that governments ban incomes that exceed a certain amount. Firstly, the distant gap between the salaries generated by high salaries can deepen discrimination in society. This can be illustrated by a vicious circle, indicating that affluent people are more likely to gain opportunities to expand their business, while the poor tread water with limited approaches to break out of their challenges. Therefore, the possibility is that this societal portrait can widen the wealth disproportion gap between the upper and lower classes. Secondly, the income gap stands a chance of demotivating people to yield substantial profits. To demonstrate, it is mostly seen in some people’s ingrained wisdom that they can never reach that huge income, so it is pointless to try their best. This awareness can hinder the determination of people if they are framed into a conservative stereotype.
In conclusion, there is an ongoing debate about whether the governments should permit extremely high salaries. From my perspective, national organizations should put a limit on their residents’ income due to the justice and associated effects it imposes on them.