Is Wealth Capping the Solution to Economic Inequality?

We live in a world and time when some people are filthy rich and others don't even have a penny, and yet you see the possibility that a rich man can go on to be spending at least a million daily and still won't have exhausted what they've after 50 years. These lead to outcry that riches should have a maximum stage for individuals to give room for others to accumulate wealth and ultimately create a fair and equal society, but is that ideal? In this article, I'll state my take on the subject matter.

While it's understandable that there is a lot of imbalance in our world today with almost half of the population of the world living from hand to mouth and not having enough to sustain themselves, we still have some other set of people who are homeless, hungry, and had to beg to make a living, and despite all of these, we've got a few percent of individuals who have so much money to the point where if they decided to share half of what they've got with the less privileged, everyone would be in good condition.

But we need to understand that although some people were lucky to be born into a rich home, others, just like everyone, grew up in the slum and had to struggle to earn a living, grabbing opportunity as it came and utilizing that to turn their lives story around, going on to be disciplined, and investing rather than spending their earnings on pleasurable things like food or clothes that fade away with time.

And in the end, such people's sacrifices and investments yielded them big returns that project them into the status of a wealthy man from once being a poor nobody, so in the advent of that, coming up with a stand that there should be a max for how much money you can accumulate won't be fair; it would, in fact, kill the spirit of commitment and willingness to do more since you know there's a barrier you can't exceed despite your hard work.

I understand there are some set of people who genuinely haven't seen good opportunities to make wealth and earn money to sustain themselves, and that's why they're probably broke till this point, but there are others in that category who did have the same opportunity as those who are now millionaires and billionaires today, but their love for pleasure and showoff is what nailed them into this position, so trying to help such people catch up with others just seems unfair and would discourage the need to even work hard in the first place since you know your efforts to change the situation of your generation can't exceed a point.

I think what is better and should be encouraged is for the wealthy people to try as much as possible to indulge in philanthropic initiatives that help to not just feed the poor but also provide them with a means of regular income via which they can go on to sustain themselves and their loved ones, so in an avenue where all the well-to-do individuals regularly do this, the situation won't be as bad as it's at the moment.

Take, for instance, the number one richest man in the world choosing a country to help all the needy in it, the second choosing another, and so on. Like that, before you know it, the world would be void of trenches and slums, as everyone will at least have something to do and something that brings them money to sustain and as well invest in their own wealth acquisition journey.

I believe that's the best way forward, but if capping of wealth were to be a thing then there will be loads of issues that'll play out due to that because when everyone is equally rich, then you'll have a world where everyone wants to be the boss, no one to be a follower, and before you know it, we'll be short of pilots, doctors, farmers, traders, and many more to mention but few because everyone is now rich and they won't want to stand so low to driving a fellow rich man, especially when you still won't earn from it because you've attained the peak of what you can earn as an individual.

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All photos taken and edited on canva.

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