Methods For Limiting Payroll
In the Big 4 North American sports leagues (Major League Baseball (MLB), National Basketball Association (NBA), National Football League (NFL), and National Hockey League (NHL)), there are three different methods employed to limit individual teams payroll: hard salary cap, soft salary cap with luxury tax, and luxury tax.
Read more about this topic: Luxury Tax (sports)
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“It would be some advantage to live a primitive and frontier life, though in the midst of an outward civilization, if only to learn what are the gross necessaries of life and what methods have been taken to obtain them.”
—Henry David Thoreau (1817–1862)
“I am truly free only when all human beings, men and women, are equally free. The freedom of other men, far from negating or limiting my freedom, is, on the contrary, its necessary premise and confirmation.”
—Mikhail Bakunin (1814–1876)