People share contradictory views about salary rates in some countries. While some individuals believe that a country can benefit from offering a group of people enormous high wages, others lean towards the idea that the authorities should limit the sum of money people can earn.
On the one hand, proponents of earning a huge sum of money can be beneficial for a state often base their arguments on the fact that this regulation can act as a catalyst for driving employees’ motivation. Letting some people earn extremely high wage can be seen as giving them a carrot they need to chase their goals, given that they seem to be more willing to take risks and challenge themselves, which in turn inadvertently bring about potential initiatives as well as golden opportunities in their business world, contributing to the prosperity of the companies. A thriving country can be attributed to those businesses since wealthy taxpayers seemingly pay a lot of taxes, which enrich the the government’s budget, helping improve public services like hospitals and schools. However, this viewpoint overlooks the fact that paying exceedingly high salaries to some people means exacerbating the rich-poor gap in a country. In addition to, if only a few people have most of wealth, it can also escalate their power over things like politics, which might pose a threat on democracy.
On the other hand, the main reason why some people propose that the authorities should set a limit on earning is that there would be less disparity between the rich and the poor thanks to such policy. Then, a more balanced society can also lead to a plummet on criminal rates because current criminals tend to put an eye on the wealthy who they believe to possess a job with desirable weigh. Nevertheless the aforementioned arguments, maximizing the amount people can earn might have some glaring drawbacks. Employees might just do the bare minimum without innovation if they know they would not get extra bonus for their endless effort. Had it not been new initiatives, a business would hardly progress and catch up with the market.
In light of aforementioned arguments, a superior solution is that the firms should allow individuals to earn as much as they deserve and ensure those with higher salaries to pay more in taxes simultaneously. This way, both the firms and the society can be advantageous since the authorities can use money accumulated from tax to enhance public services while individuals can put more effort to get higher salaries and improve their lives.