People have views as to whether the government should set some limitations on the amount of money that people make or if it is beneficial to country. While there are certain disadvantages related to earning extreme high salary, I believe that having the freedom to earn a high wage offers both emotional and practical benefits to society.
Critics of income inequality cite various reasons to support their stance. Unless the country imposes any restriction on the high salaries, only the minority of individuals have more political influence as they have opportunity to contribute to political fundraisers, campaigns, and lobby group, resulting in policies that perpetuate inequality, neglecting the needs of broader population, and favouring merit their interests over those of ordinary people. This concern is particularly pronounced in poor democratized countries, where citizens already struggle with political injustices. Furthermore, when people see high-income earners’ luxury lifestyle, people have the desire to achieve that kind of life, leading more people to job dissatisfaction.
Despite these concerns, in my view, there are numerous benefits to having freedom on the amounts of salary. From a practical point of view, if people have the right to earn more money that other, companies can have opportunities to provide incentives to their employees who work hard and more efficiently. This financial rewards evoke people’s interests to perform better in workplaces, which, in turn lead to more economic growth, increases a nation’s wealth, and enhances a country’s overall standard of living. From an emotional perspective, this freedom provide strong motivation for those who are not in the high-salary bracket. As long as people witness with high income group’s succeed, they can prompt themselves to work harder and strive for their goals, taking the success of a few as a role model for themselves.
In conclusion, although some feel that the existence of the high wage for only limited people is disadvantageous, others including me argue that there are clear benefits to having those people like inspirations and rewards.