Yankees spent millions in 2003-2007 and didn't win title, so you can't just throw money at a team and have them win title, as Redskins fans we know this
On a related note
http://sports.espn.go.com/mlb/columns/story?columnist=stark_jayson&page=rumblings100826
One of the major arguments against a cap is abuse by small market teams
People want it to take down Yankee, Red Sox, and Cub but it wouldn't help the small market teams level the playing field
And this article gets me thinking, everyone criticizes NYY for spending massively on payroll, so why doesn't your team try to spend too on payroll instead of hoarding cash like Pittsburgh