August 14, 2002 |
A day after major-league baseball players put off setting a strike date in hopes that a new labor agreement with owners could be negotiated this week, the two sides returned to the bargaining table yesterday and focused on the issue that most stands in the way of a deal - a luxury tax on high payrolls. "I would say we're closer [to an agreement] today than we were yesterday," Rob Manfred, Major League Baseball's executive vice president of labor relations, said last night. "It was a productive day. The parties' differences are smaller today than they were 24 hours ago. " Manfred was asked whether the two sides could reach a deal by Friday, the day the players association's executive board will once again consider setting a strike date if a deal is not within sight.
September 25, 2007 |
With the Sixers beginning training camp next week at Duke University, Ed Snider won't be pinned down making predictions. But the Sixers' chairman said he was comfortable with the direction the franchise was headed in, even though the team was likely to be picked by many to finish last in the five-team Atlantic Division. Unlike previous seasons, when the Sixers tried to find players who would fit into Allen Iverson's style of play, the Sixers, according to Snider, aren't going for any quick fixes this time.
February 22, 1996 |
Baseball owners abandoned their attempt to get a luxury tax this season and apparently moved a little closer to the union's proposal in their new offer. Owners said they would agree to the union's plan for a 2.5 percent payroll tax in 1996, with each player to give back that percentage of his salary to a fund to be used for, among other things, increased revenue sharing and an industry growth fund. Teams said that for 1997 they would accept either a 25 percent luxury tax to be paid by clubs on the amount of payrolls above $44 million, or a 5 percent payroll tax to be paid by players.
April 5, 2012 |
PITTSBURGH - The Phillies will once again enter a season on the verge of the luxury-tax threshold. In fact, they are so close that we probably will not know until the end of the year whether they have eclipsed it. Right now, the Phillies have a projected official payroll of about $170.63 million. But only $166.57 million of that is in the form of guaranteed contracts. Right now, the Phillies are essentially paying two second basemen, since Chase Utley doesn't stop getting paid because he is injured.
February 22, 1996 |
Baseball owners abandoned their attempt to get a luxury tax this season and apparently moved a little closer to the union's proposal in a new offer yesterday. After a two-hour meeting at the union's office in New York, owners said they would agree to the union's plan for a 2.5 percent payroll tax in 1996, with each player to give back that percentage of his salary to a fund to be used for, among other things, increased revenue sharing and an industry growth fund. Teams said that for 1997 they would accept either a 25 percent luxury tax to be paid by clubs on the amount of payrolls above $44 million, or a 5 percent payroll tax to be paid by players.
June 13, 1991 |
Question: Is the luxury tax on airplanes, boats, jewelry, furs and expensive cars soaking the rich or costing hard-working Americans their jobs? Answer: It depends on whom you're talking to. Last fall, Congress stuck a 10 percent tax on the five big-ticket items into a deficit-reduction package - a levy aimed at collecting a projected $1.5 billion over five years from high-income consumers. The tax was enacted as part of a five-year, $500-billion deficit-cutting plan. But now boat builders, airplane makers, car dealers and other affected businesses are complaining that the tax has added paperwork, cut sales and forced layoffs.
January 10, 2002 |
Commissioner Bud Selig yesterday asked players to accept a luxury tax that would slow the increase of salaries and proposed that teams vastly increase the local revenue they share. Addressing eight players and lawyers from union and management, Selig asked for a 50 percent luxury tax on the amounts of payrolls above $98 million, according to the Associated Press. Selig also proposed that teams put 50 percent of their locally generated revenue, after deductions for ballpark expenses, in a pool that is redistributed equally to all teams, up from 20 percent this year.
July 22, 2003 |
There's only one team in baseball projected to pay the new luxury tax - the New York Yankees. Following last week's acquisition of reliever Armando Benitez from the Mets, the Yankees' payroll comes to $180.3 million for their 40-man roster, including benefits. The updated figure compiled by the commissioner's office translates to a projected tax bill of $10.8 million that will come due Jan. 31. No other team is above the threshold of $117 million established by baseball's new labor contract.
December 1, 2004 |
NHL commissioner Gary Bettman yesterday reiterated the league's position that it will not consider the players' proposed luxury tax. "They claim that will fix our problems; I'm here to tell you . . . that a luxury tax will not work and it will create a potential for future disaster in the NHL," Bettman told the Edmonton Chamber of Commerce in Edmonton, Alberta. Bettman also said the owners don't have a drop-dead date for when they would have to pull the plug on the 2004-05 season, which was to have started Oct. 13. Baseball The District of Columbia Council approved financing for a ballpark for the Washington-bound Expos after voting to cap funding at $630 million.
February 18, 2003 |
As Thursday's NBA trading deadline nears, the term luxury tax seems to be playing a central role in almost every conversation about deals that might or might not happen. This is remarkable, considering that the league doesn't have a luxury tax in place at the moment. But such a levy almost certainly will take effect next season, and its impact will be huge. When it does take effect, teams will have to pay a dollar to a central league fund for every dollar by which their payroll exceeds the tax threshold.