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In some countries, a few people earn extremely high salaries. Some people think that this is good for a country, while others believe that the government should control salaries and limit the amount people can earn.
Discuss both views and give your opinion.
Different countries practice various economic systems in the world. While some countries like the United States has always been supportive of investors and rich people, others, such as China believe in socialism and strict control of the economy and people’s income. I do believe each of these systems has its pros and cons, but I think governments should define some rules and regulations to harness the incomes.
Earning unlimited wages is a dream for everyone, and especially can be attractive for big business owners. Such policy can attract a huge amount of investments in one place and boosts the economy and making a lot of job opportunities. For example, Silicon Valley in California hosts thousands of start up companies, which are run by such kind of investments. Moreover, high salaries increase the motivation for young employees, and inspire them to work harder to build their dream world.
On the other hand, government regulation and monitoring on wages can be beneficial as well. In my opinion, politicians can decrease the gap between poor and rich. For example, some governments pay subsidies to refugees and vulnerable citizens in order to eradicate the poverty. Such activities cause the society grows uniformly, and in the long-term provide equal opportunities to all citizens. Additionally, the nations who achieved to this stage usually have lower rate of crimes and better quality of health and education system (for example, Sweden, Noway and Finland).
In conclusion, while receiving high income is tempting and lead to burgeoning economy, but I argue that governments should adjust the wages in some levels to make a better life for all citizens.