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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (575883)	7/10/2010 3:29:35 PM
From: J_F_Shepard	Respond to of 1572036

Sorry ..salary cap is the wrong term, in baseball it's a luxury tax.... "Instead of a salary cap, Major League Baseball implemented a luxury tax, an arrangement by which teams whose aggregate payroll exceeds a certain figure (determined annually) are taxed on the excess amount. The tax is paid to the league, which then puts the money into its industry-growth fund.[11][12] As of the 2009 season[update], only the Boston Red Sox, the Los Angeles Angels of Anaheim, the Detroit Tigers, and the New York Yankees have paid any luxury tax. Over 95% ($164.1 million) of tax payments have come from the Yankees, and they have been subject to six of the eleven occasions the tax has been implemented." As Yankee liberals, we don't mind paying taxes....it makes our economy grow.