The difference between the income earnings of the rich and poor has attracted much social concern lately. This paper will examine the reasons why I partly agree with this opinion.
On one hand, narrowing the distance between income earnings of the rich and poor could support the equity in the community. As a result of this, gaps between people have the tendency to be smaller. On account of this, social cohesion will be more sustainable. Thanks to this, people could contribute more to society. Eventually, the benefit for the community is undeniable. Moreover, small difference between income means the poor could help themself for essential services. With that, everyone will have the equal opportunity to succeed. This results in higher life equality for people. Ultimately, the community is likely to experience much more advantages.
On the other hand, the above viewpoint is concurred by me does not enhance my approval of the idea that the difference between earnings of the rich and poor is no good. This is due to the fact that many people deserve their quality of life as the result of what they have done in their life. For example, it is not fair to say the revenue of a CEO of a large company should be equal to most normal civil servants. Moreover, income inequality can act as a powerful motivator for individuals to strive for success and innovation. When people see that hard work and dedication are likely to lead to greater financial rewards, they have the tendency to enhance their skills and demand higher education. Their achievements not only benefit themselves but also contribute to the economy by creating jobs and fostering competition.
Additionally, it’s important to note that the income gap between workers can lead to increased economic growth. Wealthier individuals often have the chance to invest in potential startups and new technologies, which can drive progress and development in society. At last, this can lead to advancement that significantly improves the quality of life for the society, including those at the lower end of the income spectrum.
In general, while income inequality is undeniably a challenge that must be addressed, I believe that it doesn’t have many negative impacts on the community. Although it is hard for the poor in terms of revenue, it is worth mentioning that the gaps between income earnings could play the role of a motivator in their life and help them enhance their skills and become a better version of themselves.