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When he took over as owner, the Oakland Athletics had a higher payroll than the Yankees.
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The Dodgers have a higher payroll, and so do the Red Sox.
"We have a high payroll.
In 2006, the state had a high-tech payroll of $9.8 billion, with 155,174 high-tech employees at 10,756 high tech locations.
Chief Economist at Moody's Analytics Mark Zandi has predicted that a higher payroll tax will decrease economic growth by more than half a percentage point this year.
But this year nothing went right, even though the team had a league-high payroll of $61 million.
The Yankees may have a vastly higher payroll than the Angels, but they are heavyweights, to use another sport's terminology.
The Mets will have a much higher payroll next season, which will be necessary to land the free agent they most covet, Seattle's Alex Rodriguez.
"We're a year away from our new ballpark and we decided rather than waiting for 2004 and have a dramatically higher payroll, we'd smooth it out in 2003 and 2004.
And while Sather, like Smith, has had the benefit of a high payroll, the team has not rebounded.
The Yankees, to use the team with by far the highest payroll as an example, could be taxed the first three years and then have an even higher payroll in the fourth year than in any of those years but not have to pay a tax.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com