Word: minimum
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Dates: during 2000-2000
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...matter who wins, the focus will be on measures that have enjoyed bipartisan support. The main ones: reducing the estate tax, eliminating the marriage penalty, expanding IRA and 401(k)-plan savings. Further down the list is fixing the horribly crafted alternative minimum...
...proposal would be an extreme luxury tax. Set the limit at something around $70 million and, in fairness to the union, set a minimum overall salary of around $30 million. When a team oversteps the limit, take the amount it is over by and tax it at around 50% and distribute that money to the bottom third of the league to give them more capital to compete. I see this as a win-win situation overall because it curbs the utterly ridiculous salaries like those of Rodriguez and Manny Ramirez (Yeah Sox fans, stop bitching about the Yankees when...
From the players persepective, while the top talent won't be enriching themselves like before, forcing the bottom teams to have a minimum salary will equalize wage distribution throughout the league. Teams won't be able to make the calculus before a season that since they can't win with a payroll of $45 million, they should just pare it down to $15 million and take their chances. It forces every team in the league to compete. And if your market is too small to meet this burden, then it is time to either fold up shop or move...
Frank also attacked the system of drug-enforcement as racially-biased, saying that the mandatory minimum guidelines had stiffer sentences for drugs often, according to Frank, used by minorities...
...second part of his lecture, Frank proposed a series of possible solutions, including ending jail terms for use or small scale transactions of marijuana, legalizing medical marijuana, making the interdiction of drugs a lower priority for police and ending mandatory minimum sentences...