Limit income

to risk Ving

to be in a situation where one accepts the possibility of a negative outcome while performing an action

income disparity

the gap between the earnings of different people or groups

wage regulation

laws or rules that set standards for pay (e.g., minimum wage)

income distribution

how a society’s total income is shared across its population

economic competitiveness

an economy’s ability to produce goods/services successfully against rivals

fiscal policy

government taxing and spending used to influence the economy

financial incentives

monetary rewards or benefits designed to shape behavior or decisions

skilled workforce

employees with advanced training, education, or expertise

merit-based pay

compensation linked to performance or achievements rather than tenure

labor market

the supply of workers and the demand for labor by employers

level the playing field

make conditions equally fair for everyone

set a ceiling on salaries

impose a maximum allowable pay level

drive innovation

stimulate new ideas, methods, or technologies

brain drain

emigration of educated or highly skilled people to other countries

earn exceptionally high salaries

receive pay far above the typical level

small group of individuals

a limited subset of people within a larger population

national growth

expansion of a country’s economy, output, or income

impose limits

set boundaries or restrictions on activities or amounts

ensure greater fairness

make outcomes more just and impartial

capping earnings

placing an upper limit on how much income can be received

promote social balance

support a stable, harmonious relationship among social groups

narrow the wealth gap

reduce differences in assets and income between rich and poor

citizens

legally recognized members of a state with rights and duties

access better living standards

be able to attain improved housing, health, education, and comfort

enhance overall happiness and stability

increase collective well-being and social order

progressive tax systems

tax structures where higher incomes are taxed at higher rates

maintain equality

preserve equal rights, opportunities, or treatment

support sustainable economic growth

foster expansion that can be maintained without harming future prospects

restrict extreme incomes

limit very high earnings at the top end

create a more cohesive and equitable society

build a community that is unified and fair to all groups

retain top talent

keep the best performers from leaving an organization or country

highly skilled professionals

experts with advanced qualifications and specialized abilities

seek better opportunities abroad

look for superior jobs, pay, or conditions in other countries

hinder a nation's development

slow or obstruct economic and social progress

offer lucrative pay packages

very well-paid compensation offers

foster ambition and innovation

encourage drive to succeed and create new ideas

strive for excellence

work hard to reach the highest standards

undermine motivation

weaken people’s willingness or effort to perform

pursue social justice

to take actions or make policies that aim to reduce inequality and discrimination in society