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Luxury Tax

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August 14, 2002 | By Jim Salisbury INQUIRER STAFF WRITER
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.
SPORTS
September 25, 2007 | By Marc Narducci INQUIRER STAFF WRITER
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.
SPORTS
February 22, 1996 | Daily News Wire Services
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.
SPORTS
April 5, 2012 | By DAVID MURPHY, Daily News Staff Writer
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.
SPORTS
February 22, 1996 | THE INQUIRER STAFF
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.
BUSINESS
June 13, 1991 | By Angelia Herrin, Inquirer Washington Bureau
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.
SPORTS
January 10, 2002 | FROM INQUIRER WIRE SERVICES
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.
SPORTS
July 22, 2003 | Daily News Wire Services
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.
SPORTS
December 1, 2004 | THE INQUIRER STAFF
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.
SPORTS
February 18, 2003 | By Larry Eichel INQUIRER STAFF WRITER
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.
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SPORTS
January 30, 2014 | By Matt Gelb, Inquirer Staff Writer
The revelation that veteran righthander A.J. Burnett intends to pitch in 2014 will not send shock waves through the industry because many top free-agent pitchers remain unsigned. But Burnett comes with special interest to the Phillies, who have liked the 37-year-old pitcher in the past and need a mid-rotation starter. Burnett will test the market, according to a Pittsburgh Tribune-Review report. He posted a 3.30 ERA in 30 starts for the Pirates last season and anchored one of the most surprising rotations in baseball.
SPORTS
January 26, 2014
The Phillies and Ben Revere agreed on a one-year, $1.95 million contract Friday to avoid arbitration. He was the team's final unsigned arbitration-eligible player. Revere, 25, will play center field for the Phillies in 2014 after an injury-shortened 2013 season. He hit .305 with a .691 OPS, which was impressive, given a horrific April that relegated him to the bench for almost a week. The Phillies want to see improvement in Revere's defense, which was heralded upon his arrival, but shaky in reality.
SPORTS
July 15, 2013 | By Marc Narducci, Inquirer Staff Writer
In the first game, catcher Carlos Ruiz was hit in the throat with a bouncing pitch from Justin De Fratus in the seventh inning. He remained down momentarily but stayed in the game. Afterward, manager Charlie Manuel said Ruiz was "OK. " Humberto Quintero started the second game at catcher, but Manuel said that was a move he had planned to make anyway. Luxury tax Assistant general manager Benny Looper confirmed a Baseball America report that the Phillies have gone over their draft pick bonus pool and will have to pay a luxury tax. The Phillies had approximately $6 million to spend on their top 10 draft picks.
SPORTS
July 11, 2013
Milwaukee traded forward Luc Mbah a Moute to the Sacramento Kings for a 2016 second-round draft pick, a person familiar with the deal said Tuesday. The source also said Milwaukee has the right to swap 2018 second-round picks. The 6-foot-8, 230-pound forward has emerged as a standout defender since he was drafted 37th overall out of UCLA by the Bucks in 2008. He has averaged 6.9 points and 5.3 rebounds in 25.1 minutes per game in his career. Mbah a Moute has two years remaining on a four-year deal worth about $19 million.
SPORTS
February 23, 2013
LeBron James led four Miami players in double figures with 26 points as the visiting Heat defeated the Chicago Bulls, 86-67, Thursday night. Dwyane Wade added 17 points, Chris Bosh had 12, and Ray Allen added 11 off the bench for the Heat (38-14), who have won nine in a row.   Knicks to sign Martin The New York Knicks traded swingman Ronnie Brewer to the Oklahoma City Thunder, opening up a roster spot that will be used to sign veteran forward Kenyon Martin. Team president Glen Grunwald said Martin will be signed to a 10-day contract with the hopes that he could remain for the rest of the season.
SPORTS
August 4, 2012 | By Marc Narducci, INQUIRER STAFF WRITER
When he wasn't dealt by Tuesday's non-waiver trade deadline, righthander Joe Blanton thought he might be with the Phillies for the rest of the season. So when he heard Friday afternoon that he had been traded to the Los Angeles Dodgers for a player to be named or cash, he had a natural reaction. "I was pretty shocked," Blanton said, talking to reporters in the Phillies dugout moments after hearing the news. The trade was made after the Dodgers claimed Blanton off waivers.
SPORTS
August 3, 2012
WITH THE PASSING of the trade deadline, we come now to the next annual baseball ritual for any underperforming team: the parsing of statements. (To be followed by the promise of better times ahead and the mailing of season-ticket brochures. But let's not get ahead of ourselves.) For several years, the Phillies had been a whatever-it-takes organization. They started with a homegrown base of players and added free agents liberally. They spent money in ways that no Phillies team ever had. But then came the most recent offseason, where they settled more and gambled more than ever during this run. They had a bad offensive team in 2011 and did nothing appreciable to fix it. They gambled on a super-optimistic timetable for Ryan Howard's return from an Achilles' injury.
SPORTS
July 26, 2012
With his boss David Montgomery seated next to Cole Hamels' wife, Heidi, and son, Caleb, inside the crowded media room at Citizens Bank Park, Ruben Amaro Jr. offered the reminder he always feels obliged to share whenever the Phillies have unloaded a truck full of money on one of their players. "We don't have an open wallet," the general manager said. "That is not how it works. That's not how any business would work. " No, they do not have an open wallet. Wallets have not been equipped to handle the Phillies' enormous pile of money for quite some time.
SPORTS
July 20, 2012 | By Michael Harrington, Inquirer Staff Writer
There was a meeting of phenoms past and present Monday when Los Angeles Angels rookie star Mike Trout met Al Kaline, the Hall of Famer who played for the Detroit Tigers and won a batting title in 1955 when he was 20 years old. Millville, N.J.'s Trout, who will turn 21 next month, won't beat Kaline's mark, but he does have a shot at winning the batting title. He raised his American League-leading average to .355 on Tuesday night with the fourth four-hit game of his spectacular debut season, including a 430-foot homer in the second inning as the Halos demolished the Tigers, 13-0.
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