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NHL Socialism

This bit from John's post on the NHL's potential CBA is stunning:

According to the formula, a dollar-for-dollar luxury tax will kick in at the midway point between the floor and the cap. If the floor of the lowest team proves to be $22-million and the cap on the highest team is $36-million next season, then the tax will come into effect at $29-million.

A 100% tax on payroll over $29 million? That's downright punitive. It would certainly act to equalize spending. But more relevant, short of unitized ownership a la' MLS, it's the most powerful tool to depress player salaries that North American sport has seen in some time.