From Court Side To Capitol Hill: Biden's Reaction To Caitlin Clark's Salary Raises Eyebrows

By Jennifer Wentworth | Friday, 19 April 2024 10:15 PM
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From Court Side To Capitol Hill: Biden's Reaction To Caitlin Clark's Salary Raises Eyebrows
Image Credit : Photo by Caitlin Clark for Rolling Stone

President Biden has recently expressed his dismay over the reported salary of Caitlin Clark, a rising star in women's professional basketball.

This has once again highlighted his apparent lack of understanding or disregard for economic principles.

Clark, who has shattered records and attracted significant attention to the sport, reportedly signed a four-year contract with the Indiana Fever worth $338,000, earning $76,535 in her first year. In stark contrast, Victor Wembanyama, the projected number one pick for 2023, has a four-year contract with the San Antonio Spurs valued at over $55 million, with a first-year salary reportedly set at $12.1 million.

This disparity has sparked outrage among left-wing figures, including President Biden. "Right now we're seeing that even if you're the best, women are not paid their fair share," Biden posted on a social media platform. "It's time that we give our daughters the same opportunities as our sons and ensure women are paid what they deserve."

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However, there are several reasons for the wage gap between female and male basketball players, and sexism, as implied by Biden and his allies, is not among them. The reality is that the Women's National Basketball Association (WNBA) is not as financially successful as the National Basketball Association (NBA).

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The WNBA, which consists of 12 teams, generates only $60 million per season from television contracts with ESPN, CBS, ION, and Amazon, and had a total revenue of $200 million last year. It is financially impossible for the league to match the astronomical salaries of NBA players.

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The NBA, on the other hand, which has 30 teams, earns $2.7 billion from television contracts, and its total revenue last year was significantly higher. The primary reason for this is the enormous interest in men's professional basketball, which has historically overshadowed women's basketball.

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However, this trend is beginning to shift. Players like Clark, Angel Reese, and Aliyah Boston are drawing more attention to women's basketball with their exceptional athletic abilities. As interest in the sport increases and the league's financial success follows suit, higher salaries will become feasible.

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In the interim, Clark is expected to earn millions from endorsement deals and social media, as advertisers are willing to pay more for her influence. Despite this, Biden appears to be oblivious to these fundamental economic principles.

The impact of Biden's economic policies on the average American has been stark, with prices rising significantly faster than wages, resulting in a loss of purchasing power. High interest rates have made purchases unaffordable, and contrary to Biden's promises, the Federal Reserve has warned that they are unlikely to decrease.

As the November elections approach, economic issues will undoubtedly be at the forefront of voters' minds. It would not be surprising if voters hold Biden accountable for his apparent economic ignorance.

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