Meh, wages based on income of the club, in terms of caps, do very little. The idea behind wage caps is to not completely level the playing field, but limit any single team, or very small group from being run away completely unchallengable leaders. The problem with a wage cap based on the clubs income, is teams like Utd have got in a position that their income is hugely higher than most other clubs, which makes its available wages, if say set at 75% of the clubs income, to 40-50times higher than Derby could afford, effectively doing just that, making them unchallengeable long term.
IT all came about from a business decision really, those that got big stadiums early, had a massively higher earnings potential. There isn't really any fair way to have a cap, and if you do have a cap, it won't reduce ticket prices or make football better or worse, it will just mean the richest clubs have a higher profit level and if they choose can have even more money available to buy the best players. I think a transfer cap would be more benificial than a wage cap. Barca/Real/City really shouldn't be able to just spend 100mil plus any year they like getting whoever is best at the time and doing the same a few years later.
AS for England and tax, we're pathetic and don't seem to understand why rich people move away from the country. If tax was lower, comparable to other countrys we'd make MORE money in terms of taxes gained.
Hamilton didn't want to be taxed 50%, so moved somewhere that charges a bit over 20%? So rather than gain that extra cash by having much higher taxation in the UK, lets say Hamilton made 20mil, instead of getting 10mil, rather than 4-6mil with more sane taxation levels......... we made nothing because it was easier and better to just leave.
We didn't have a CL final, which could have brought in millions, because we were too greedy, we've lost millions of jobs, and hundreds of thousands of rich people have emmigrated to avoid ridiculous taxation, thats lost the country countless billions in tax revenue, not gained it. The fundamental problem is, tax rich people too much, and they just have the option to leave, for frankly nicer climates, better taxation rates, nicer area's, and we're pushing them to make that decision.
You really need a pretty huge bump in salary to maintain the same level of wages when you move from almost anywhere else to the UK to work.