Cheers for the $6M Baseball Player
by redwagon, Mon Dec 29, 2008 at 12:22:26 PM EST
I don't exactly loathe sports as a waste of time, energy and money. But I have not managed to watch an entire event on television of any kind.
But honesty, who actually gets the money instead of the players in this case? The owners. And the players tend to be middle class or working people who happen to be excellent for a very few years. The owners are obscenely rich, have no particular talent, and keep most of the money.
I advocate much higher taxes on higher incomes. Progressive taxes.
I am all for class warfare. But I am against the ownership class who not only do not work, they don't play fair.
So let's have a progressive estate tax (99% for estates over $1M?) so that the income not paid to the players is given to someone other than the owners and their children.
In order to prevent a few extremely rich families from having any tax burden, we have a debt equal to, well it changes so fast, it was ~40k when I looked.
Why do we have this debt? So that people making over $250k ($500k for couples!) and the trust fund owners can pay no taxes. Boomers, you know who voted Reagan and the ownership society, own about $8 Trillion. Assume they intend to give half of this to the kids. We can balance the budget, pay Social Security for the next generation, and lower the debt with an estate tax.
We have this debt so that corporations won't have to pay any taxes at all. Corporate income in the last quarter appears to be $3.7 Trillion (assuming the $18.5 is the .5 decrease). http://www.bea.gov/newsreleases/national
That is for the quarter, correct? And that is profit, after they pay the fat salaries.
The greater difference in this country is between levels of ownership. None of those players is walking away with anything like the wealth of the owner of the "team". And no one inherits a place on a competitive sports team.
If we are to have class warfare, we should aim at the right people. And the guy who makes $6M a year for six years on his own skill and sweat is pretty far down there. He could be a bank VP for that much money! With no expectations for performance.
The top 1% in the US get 20% of all the total income. The top 1% own more than 20% of the total wealth in American. We need to tax wealth in a very progressive manner, more so than income.
And right now, I would rather the money go to the players than the owners. At least those guys are on the (diamond) (pitch?) (I told you I don't go for sports). Uhhh. In the game. At least those guys are in the game!