Hundreds of Millions of dollars all around the world are being used to pay our athletes. My question is should they be paid this astronomical amount of money. Certain athletes earn millions while various people all around the world can barely afford the necessities, such as food, water and shelter. This is a problem that desperately needs to be addressed. To achieve this we should employ taxes, but the money made off this should go to charity, also we should lower salary caps, thus we restrict the amounts teams can spend on their players.
In this report, I will be explaining why athletes should be paid less So how much do athletes receive a year, the top 10 paid athletes total pay added up is just less than 1 billion dollars. 1 billion dollars spent on 10 people this is just too much. To illustrate this, with the money the water project could buy 83,300 water points for people in Africa with lack of clean and safe water. In addition to that could also supply 1,000,000,000 dollars worth of food for starving Africans, or 1,000,000,000 dollars worth of school supplies. This could create a enormous difference to children all over the world.
Furthermore, this reinforces the idea that athletes receive too much in pay. All over the world, people are struggling to even buy the necessities while others earn more than they can spend. My question, how much does the average people earn. Unfortunately in 2009 New Zealand the average wage a month is 2283 this works out a year at just over 27 thousand. The average expenditure a year in New Zealand has been just over 57,000, this subsequently leaves the average person 30,000 out of pocket. So why should athletes earn more than the majority if people work as hard or even harder.
They shouldn’t or their salaries should at least be reduced. There are two key tactics that are currently being used, Salary caps and taxing athletes. Taxing athletes are currently quite an effective way of managing the athlete’s money, for instance, if an athlete earns 20 million a year and were living in New York. The athlete would pay 12. 78 percent in taxes on not only his wage income, also his endorsements and investment interest this is 2. 6 million in taxes. This is not for the right reason and will go straight to the government, where the people in need should get it.
They also have salary caps, which is probably the best method. In summary, there’s things being done, however, there’s not enough being done at the moment. A salary cap is an agreement or rule that places a limit on the amount of money that a team can spend on player salaries. The limit exists as a per-player limit or a total limit for the team’s roster, or both. For example, in the NFL the Jacksonville Jaguars they have a Limit of spending just under 177 million dollars a year divided by the amount of players which is 65, this means that each player should receive around 2. million dollars a year.
This is not exact as would earn more and certain players would earn less than the average. This Restricts teams from paying their stars millions in salaries just to keep them at the club. In summary, this by far the best option, however, is not being used in Football probably one of the highest paying sports in the world. Lastly, we should utilize salary caps further. Unfortunately, not all Athletes revive high salaries. Only the ones that play in an extremely wealthy franchise and are followed all around the world are paid highly.
They are paid the colossal amount, much because of the fact that they produce billions in profits for the owners of the teams as well as for other businesses that rely on the team’s success. Endorsements, media rights, fanfare etc. are just some of the things that contribute to the Athletes giant paycheck. Even though Athletes playing in individual sports don’t earn their money by salaries they still get winnings, for example, Floyd Mayweather in one fight made 14,815 per second and $888,889 per minute when he fought in the ring.
Nevertheless, no single person should be paid this gigantic amount of money for whatever reason. There are currently two main methods that will decrease the amount of money Athletes earn. These are Salary caps and Taxes; these two methods are currently being used but not effectively. Taxes are being used to earn millions of dollars for the government, where is should be going to those in need. If it were to be used effectively the money would be going to Charity’s and organizations that supply people who can’t afford the necessities.
Salary caps are another viable option, some sports are already using this method, but big names such as FIFA aren’t using it probably one of the highest paying sports in the world. Also, any of the excess money that would’ve been used on salaries could go towards people in need. These two are definitely the best methods and would be the most effective. To conclude, I believe that athletes should not be paid the excessive amount of money they are getting paid. The reason being the millions of dollars being spent on athletes could be used on people in need all over the world.
It could be used to buy thousands of water sources for African citizens lacking clean, safe water, or food, water, clothing or education. To do this money earned by taxes would go straight to a Charity, which would supply people in need all over the world. Also salary caps would limit the amount of money Teams could spend on their athletes, any excess money that would’ve been used on salaries could go to the charity. In summary a gigantic amount of money would be raised Hundreds upon hundred of millions even billions, this would solve the overpaying problem and the other problems all around the world.