[Johngramuglia]

I think it is an indicator of what is valued. A researcher trying to cure cancer would make a tiny fraction of what an athlete makes. I don't begrudge them what they're making because the business makes money off of them. As long as people are willing to pay the prices and TV revenues and licensing provides money, it will continue that way. I just think it I snore of an indicator of what the humans value

[golfing eagles]

Originally Posted by Stu from NYC

I made an example why in the world would you make this about racism?

I didn’t. The second poster did. I was taking racism out of the equation

[Kenswing]

Originally Posted by Keefelane66

Let me interpret the statement: people of color should make 50 million to play basketball. Thank You for your honesty

Wow! You seem to play the race card every chance you get. It seems you look for anything that can be even the tiniest bit construed as racial. Even if it's not. How sad.

[Stu from NYC]

Originally Posted by Keefelane66

Let me interpret the statement: people of color should make 50 million to play basketball. Thank You for your honesty

I gave an example nothing more nothing less.

Do not believe anyone in any other major sport makes $ 50 million a year. Why in the world does racism become a part of this?

[sail33or]

2 Points to make:

1. Humans repeat history. Always. Roman emperors created the Coliseum for athletes to compete, so citizens dumbed down, became distracted, changed values and accepted dictatorship.

2. Rich athletes, like most rich people usually spend the money on themselves. Find me one that lives in a 2,000 sq ft house or drives a $30,000 car. If they give to charity, it is their own Golf School, Basketball Camp, etc. A Higher Authority must be troubled with such suffering in the world that could be helped by the money going to personal selfishness. Ever see any athlete going into Chicago and taking on gang/drug violence?

[Vikingjunior]

PGA is a not for profit with a tax free exemption. They save about $40 million a year in not paying taxes.

[golfing eagles]

Originally Posted by Vikingjunior

PGA is a not for profit with a tax free exemption. They save about $40 million a year in not paying taxes.

How much does the United Way "save" by not paying taxes?????

[Worldseries27]

Originally Posted by jebartle

Where does it end??? A surgeon saves lives and makes peanuts compared to professional sports.... Our values are "out of whack "

NYU BASICALLY 100 TO 1
BASEBALL 659 to 1
FOOTBALL 4233 to 1
FYI
SHOW ME THE MONEY

[spinner1001]

Originally Posted by jebartle

Where does it end??? A surgeon saves lives and makes peanuts compared to professional sports.... Our values are "out of whack "

The present system of setting wage levels is the best system and other systems are worse.

Wage levels here are the result of free markets — the best system for setting wages. What other system exists that is better for setting wage levels? I don’t know of one.

If a free labor market does not set wage levels, then what person or committee would determine how much a person is worth and ought to be paid? And how would this dictator or committee be chosen? There is no good way. Would this dictator or committee set wage levels at the same as what you believe is the right level? Probably not. What then? Fire the dictator or committee until you get one that you like?

There is no better system for setting wage levels than the present system. Other systems have been tried and don’t work well.

[golfing eagles]

Originally Posted by spinner1001

The present system of setting wage levels is the best system and other systems are worse.

Wage levels here are the result of free markets — the best system for setting wages. What other system exists that is better for setting wage levels? I don’t know of one.

If a free labor market does not set wage levels, then what person or committee would determine how much a person is worth and ought to be paid? And how would this dictator or committee be chosen? There is no good way. Would this dictator or committee set wage levels at the same as what you believe is the right level? Probably not. What then? Fire the dictator or committee until you get one that you like?

There is no better system for setting wage levels than the present system. Other systems have been tried and don’t work well.

First of all, I agree with you, I'm a believer in capitalism and free markets. However, our markets are not necessarily "free".

Ever hear of RVRBS? (Resource Based Relative Value Scale). This is the system used by CMS (Center for Medicare Services) and most 3rd party payers for physicians. This system, approved by "committee", sets payments for all medical services. There is no "free market", no negotiation, you either accept the decision of the "committee" or not participate in Medicare and any insurance that uses RBRVS. BTW, this system was developed 40 years ago by a Harvard economist who had no idea of medical services and their value, resulting a deeply flawed system that vastly overpays for "new" procedures and technology.

Another example: By regulating the number of hours a long haul trucker can drive (not necessarily a bad thing), the government in effect limits his income.

There are many more examples, but this gives the poster who stated surgeons are paid less than sports figures an idea of why. (Not so much why the sports figure is paid so much, but why the surgeon is paid relatively little)

[spinner1001]

Originally Posted by golfing eagles

First of all, I agree with you, I'm a believer in capitalism and free markets. However, our markets are not necessarily "free".

Ever hear of RVRBS? (Resource Based Relative Value Scale). This is the system used by CMS (Center for Medicare Services) and most 3rd party payers for physicians. This system, approved by "committee", sets payments for all medical services. There is no "free market", no negotiation, you either accept the decision of the "committee" or not participate in Medicare and any insurance that uses RBRVS. BTW, this system was developed 40 years ago by a Harvard economist who had no idea of medical services and their value, resulting a deeply flawed system that vastly overpays for "new" procedures and technology.

Another example: By regulating the number of hours a long haul trucker can drive (not necessarily a bad thing), the government in effect limits his income.

There are many more examples, but this gives the poster who stated surgeons are paid less than sports figures an idea of why. (Not so much why the sports figure is paid so much, but why the surgeon is paid relatively little)

While the present system is the best, it is not perfect. No economic system is perfect. There are only systems that are better or worse. Take your pick!

[LianneMigiano]

Worse yet are the ridiculous sums paid to CEO's! Don't ever tell me that they "worked hard for it"... There's NO AMOUNT of work worth the kind of money they are paid. Athletes shouldn't be either - but they are at least putting their physical health condition on-the-line. TV/movie stars are another group of overpaid people. How did this world ever get this skewed out of line????

[Worldseries27]

Originally Posted by spinner1001

the present system of setting wage levels is the best system and other systems are worse.

Wage levels here are the result of free markets — the best system for setting wages. What other system exists that is better for setting wage levels? I don’t know of one.

If a free labor market does not set wage levels, then what person or committee would determine how much a person is worth and ought to be paid? And how would this dictator or committee be chosen? There is no good way. Would this dictator or committee set wage levels at the same as what you believe is the right level? Probably not. What then? Fire the dictator or committee until you get one that you like?

There is no better system for setting wage levels than the present system. Other systems have been tried and don’t work well.

let's look at the average professional athlete salary not the skewed highest. I daresay there is not a lot of difference
my dad once told me figures dont lie
but
l. S know how to figure

[threefootputt]

Paul Samuelson, U of Chicago economist, coined the phrase “dollar votes”. People vote with their dollars. Athletes would not be paid these amounts unless there was revenue to support it. It is what people perceive as value. The same people who balk at paying an additional two millage increase in taxes in order to pay teachers more don’t hesitate to spend $15-$20 for beers at the stadium. The same people who object to assistance for mental health continue to buy their favorite player’s $150 jersey. They are exercising their votes on their priorities by using their dollars.

[jebartle]

Originally Posted by Mrs.Guy

Could you please give us a "free estimate" of what a sports professional should be paid. Just a ballpark figure .... I won't hold you to it.

FREE estimate, hmmmm!, have you ever paid for one, not me!!!!- I must have missed the "joke"