Hah… put a cap on riches keh. Please ooo, me that is yet to become a gazillionaire, such a policy can’t be made just yet. I know just how crazy it can be when the government decides to tell you not just how to spend your money, but also how much you can make as an individual. It will be insane, especially when you consider the fact that there is so much more money to be gotten, and all that is keeping you is a policy.
It could be for the greater good. It could be that it’s all happening so that the excess money is spread out among the rest of the world, given to those who really need it, and used to build infrastructure and foster development. It could just be the perfect thing we need. But then, will it be fair?
I don’t think any country in the world does this because that will really be a threat to their economy. However, in my opinion, some countries have done some things close to it to ensure that their domestic economy thrives. Take China for instance, while there’s no cap to how wealthy you can be in China, there is a cap to how you can spend all that money.
The government discourages people from owning properties overseas, and instead, invest in domestic properties and assets. That way, they control the amount of money that flows out of the country and keep it to the minimum. Then, everything else flows within the country, which is where the government will have total control over it.
It’s a smart move because it encourages domestic investments and also helps the people of China. This is not the government putting a cap on how rich a Chinese can get, but it does put a cap on how he spends all that money. Maybe this is something that the rest of the world should employ. Buying assets at home should always be a better option than buying abroad. Sending so much money outside the country will never favor any country, the more money that flows in, the better the standard of people living there.
So, back to the main topic, I think I’ve already made my point on this matter known. We already know that people are not born equal, trying to force everyone to be equal would only lead to chaos. Besides, it will have adverse effects on the economy in more ways than you’d be willing to consider. You may be able to legally put a cap on how much people can make, but you can never put a cap on human nature to always hunger for more money.
For some people, this policy will discourage them and they won’t see the point of being ambitious because, in the end, they know that they’ll fall within a set bracket. So, they simply deliver the barest minimum. That won’t be fair, especially to those who work twice as hard but also get to make the same amount of money.
Others though, will not be deterred. They will either find a way to dance around the law or look for a loophole to exploit and make more money. Some will become criminals, hiding assets under fake names and all that.
So, what am I saying? Such a policy would be dead on arrival, the repercussions would be dire and it would only be a matter of time before they revert it. But then, the government can try what China is doing, maybe it could work for us and the people will be more motivated to invest in their domestic economy.
