You don't understand how this issue works. Here is a little help to read up on it..
At the conclusion of 2014-15, the repeater tax will make its dreaded debut by punishing teams that have paid a luxury tax for four consecutive seasons. Miami is on a path to be hit with an enormous penalty in the summer of 2015.
As a repeat taxpayer, the Heat will be facing the highest incremental tax rates in NBA history. If, for example, the luxury-tax threshold is established at $75 million -- a highly optimistic gain of roughly $5 million from this season -- the Heat could be faced with a tax bill approaching $48 million. In total, they would be paying $141.3 million for 12 players.
"They're going to have to break up their team,'' predicted a rival general manager who has done the math.
I understand exactly how it works. I've looked at the breakdowns. I did screw it up a little bit; in 2015, if they are $15 million over the tax, they will be hit with the repeater payment, which would be about $42 million.
Miami's team salary was about $82 million this year, in order for a $48 million tax bill to get them to $141.3 million , they would need to add about $10 million to their payroll. They might be forced into that with extensions for James/Wade/Bosh, or maybe not.
For the 2015 season, they technically don't have anyone under contract, since they have the player options for the big 3, plus Miller and Haslem. For the moment, assume all 5 opt in. That's about $70 million. In order to get to the roughly $93 million SI is giving them in the story above, they would need to add an additional $23 million in salary, which seems aggressive. (Also don't forget they have the amnesty in their back pocket, which they can use on Miller if they wanted to)
If they kept their 2015 payroll at $85 million, and the tax moved to $75 million, then their tax bill would be about $25 million, for a total of $110 million. If the tax stayed at $70 million, the tax would be about $40 million, which gets you to $125 million. I think the $150 million figure is a vast overbid. They'd need to add significant salary from here, and they have contracts coming off the books.
I don't know what's going to happen. But a $150 million team payroll seems unlikely to me at any point. They'd need to add salary from where they are now.
Also, for the record, I don't think we disagree too much. I think the luxury tax is an obstacle to keeping the team together. I just think it may not quite be as onerous as the SI article implicates.