A cap I used to where when playing tennis but I don't wear this cap anymore. I loved this hat because it had the Japan flag colors since I was crazy about Japanese culture when I was in my high school years. Do you know the brand of this hat?
Caps are necessary in life. They look stylish and protect our eyes from the sun when outside, playing sports etc. Actually, I am just joking. Today, I want to discuss about another cap. It's a cap on how much a person can earn. Should society cap earnings so everyone has the same maximum income?
In my opinion, I don't think society should limit a person's maximum income. It would be a terrible idea because that would just stop a person from working more if they already reached their maximum income. These are the people that contribute to society and keep the economy going. In general, I just don't see how it would work because this would also limit what people could buy. Would they still have enough money for sports cars or luxury goods? I think not and it would disrupt a lot of businesses.
Aside from all this, I think it's not fair as well. There are people that work harder than others and they deserve to earn more; they shouldn't be restricted because of all the other lazy people in the world. Recently, my boss told me about the 80/20 rule or also known as the Pareto Principle. In short, it means 80% of the results come from 20% of the work so in this sense I'm saying that 20% of people working are the ones usually producing 80% of the results while others are just getting carried and putting out only 20% of the results for the other 80% of the people. I hope I made sense and this wasn't too confusing.
If it's not obvious enough, I will clearly say that I would never support this kind of system. I think our current system is better but there could be some tweaking to patch the abuse of loopholes in the law to not pay their taxes etc. The sky is the limit they say. I think anybody should be able to earn as much money as they are able to. Why should we stop someone from maximizing their potential. These people will build more businesses and hire more people hence they should have an uncapped income.
With the current system, there are a few people collectively richer than the rest of the world. These people are on the top of the income / net worth pyramid. I think it's fine as that's what life is. There will always be people on top and there will always be people at the bottom. Everyone has an equal chance to get to the top and some people get to start out there or near there.
That's all for my thoughts. What are your thoughts on this? Would love to hear from someone that disagrees in the comments!