Recent 2016 brain-busting news item: Pro football player Von Miller has been awarded a six-year, $114,500,000 contract with Denver Broncos.
In comparison, home run champ Babe Ruth was paid $80,000 by the New York Yankees for the 1929 baseball season. That year the Babe actually earned $5,000 more than U.S. President Herbert Hoover. When asked why he deserved more, The Babe said, “I had a better year!” That wise-guy answer had a lot of truth in it, because in 1929 the stock market crashed and the Great Depression began.
Of course, pro football players today aren’t the only ones getting insanely inflated paychecks. Rock stars, movie actors and Wall Street thieves also pull in millions. But, at least they work 12 months a year for their ill-gotten gains. Pro jocks get a year’s pay for only six months of actual work. The rest of the year they can relax, while making multi-million-dollar TV commercials, buying Malibu mansions and ingesting higher-quality drugs.
Think about all that money pouring in suddenly to young guys who usually come from low-income parents. How many Lamborghinis and paternity suits can they afford? Of course, pro jocks are always in danger of injury, such as falling off their stacks of money or a high-priced hooker.
Not to criticize newly-rich athletes who come from poor backgrounds. But, at least born-rich kids are taught by their savvy parents how to manage family millions. They know how to spend it wisely, create businesses, screw investors and run for president.