I outlined my ideas for a pie in the sky sports league that would include aggressive revenue sharing both across franchises and with the players. In fact, it was pretty much based on the concept that almost all revenues be distributed in an equal fashion amongst the various teams, though I left a lot of flexibility in the way teams distributed their money to players. It's nice to dream, but generally dreaming doesn't get you very far, so here are some more realistic suggestions. This topic comes up a lot on various forums I participate in, so these ideas are pretty much attributable to the on-line baseball community as a whole. The ones listed have come up many times and have been acceptable to a majority of people.
Revenue sharing comes up frequently, though the extent varies depending on the poster.
One thing is certain though, most people agree that the current luxury tax is way to little to do much good. The key problem with revenue sharing is the ability of owners to simply pocket the money rather then spending it on improving the team. For this reason it has been suggested that a minimum payroll be required of all teams. It has also been suggested that a maximum payroll should be placed on all teams as well. In general I'd suggest that a maximum cap be no more then 1.75 times the minimum if baseball wants to maintain anything close to competitive balance.