Regulating Individual Earning Worldwide

It is no secret that we have the poor and the rich in the world we live in. We have the capitalists, the middle class, and the poor, but in today's world, the differences between the middle class and the poor have little difference.

Hello Hive ecosystem, let's talk about this topic today.

Should there be a cap on just how much a person can earn?

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If I say there should be a cap on how much a person should earn because I'm not earning much or I'm envious of people who are earning millions, then I'm a hypocrite. I understand that there are some people who are so rich that they don't know what to do with the money they have, and they are not ready to help any more.

The truth is, if there is a cap on how much a person should earn, then society and individual classes will be a little less equal. Regulating individual earnings worldwide is a complex issue that involves balancing economic efficiency with concerns about income inequality. Some countries have tried to achieve this by imposing a higher tax on the wealthy, and we can see how much these countries have developed. Imagine if this were done worldwide and we were regulating the minimum earnings per individual. I'm sure that excessive money will be put to good use.

If there is a limit to how a person can become rich, then I don't think the world will develop the way it is now. I can currently see a man with a big dream that can change the world, but if this dream is not making him rich the way he wants, he won't be able to put effort into it and make it a world-renowned innovation. The rate at which we are going to have lazy people will be so high. If the hard workers and the ones who hardly work are earning the same amount of money because of a regulation that has been put in place, then I think the system is not fair.

Will you support such a system, even if it means a better and more fair society?

I don't think such a system is fair, and for that, I won't support the system. Before such a system can be put in place, the mindset of the people in the world will have to change, and this will be very difficult to achieve because we are not programmed like that. The thought of "I want to be better; I want to achieve more" will always be at the back of our minds.

Another fact is that, even if everyone earns the same amount of money, we would still have the rich and the poor because some people know how to maximize their wealth while others will spend everything that comes into their pockets. Some will save to start up a business of their own, while others will spend all their money on that business.

The only way such a system can be implemented is if the government provides all the basic human needs, that is, clothing, shelter, food, and security. I mean everything so that one person doesn't have more than the other, then the regulations can be put in place. Also, they would ban people from starting up a business, growing, or building an idea. Everything will have to come from a particular individual, and that's the government.

In conclusion.

I'm not in favor of such a system, and I don't support it because it will stop humans from growing, no matter how far or great we can achieve. The goal of such a system seems helpful in a way, but there are so many factors that would destroy the system. Thanks for reading.

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