Today's professional athletes make ridiculous salaries and are only increasing year after year. Every year we hear how a professional athlete just signed a contract worth a record amount. Then about the same time next year we hear about another athlete is signing a new contract worth even more than the previous high. Professional athletes are making too much money in a society that salaries and wages are typically based on the value of ones work.
In today's society where salaries are determined by an individuals labour put into when providing a good or service. It is expected that individuals that provide goods or services with a high amount of labour involved or increase the standard of living of the society would have the highest salaries. However, this is not the case in North America and Europe. For example, the President of the United States earns a modest $250,000 a year, while the lowest salary in Major League Baseball is $300,000 a year. When considering the value of work that is provided for a good or service. It is inequitable an individual who is responsible for the well-being of a country to earn less than an athlete, who may not even provide a significant service. Although, some may argue that they are paying to see the best athletes perform and is acceptable for them to have high salaries.
Tiger Woods currently to best player on the PGA Tour. According the Golf Digest magazine, Tiger Woods is the highest paid athlete in the world earning $122.7 million in 2007. That is an increase of $26 million from the previous year. However, only $22.7 million was earned by playing and winning certain golf tournaments. The remaining amount was earned through various endorsement contracts that include Nike, American Express, Buick, and Gillette. Call it the Tiger touch. Companies that endorse Tiger have largely benefited from his dominance on the golf course, and squeaky-clean background off the course. It is predicted that Woods will become the world's first...
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