I am not so concerned at the levels of when they kick in, but what they actually mean. I think that's what confuses people. They are two different entities and have two different goals. In the most general of generalities, the salary cap makes it easier for teams to keep there own players as teams have more options as to what they can do with the cap as compared to teams trying to add players from other teams. The luxury tax is just to punish teams that are outrageously rich and the luxury tax now increases for serial offenders which I think is a good idea. Finally LA and New York are in a position where they can't simply ignore that tax simply becaue they have money to burn.
Many people think that going over the salary cap kicks in the luxury tax.
For me to explain what both caps mean would take quite a bit of time. Its a complicated subject with a lot of variables. But basicly, the salary cap limits what a team can spend, and how they can spend it. For instance, if the salary cap is lets say 60 million, and a team is right at the cap or just 4 or 5 million under it, there's really no way they can exceed the luxury tax threshold, unless one of their existing players, lets say Cousins, is ending. If thats the case, the team holding that contract(the Kings), can then exceed the salary cap by offering a max contract to keep their own player, which then might take them over the luxury tax threshold. On the other hand, if the Kings again are right at the cap, or just below it, they can't go out and offer a max contract to a freeagent, lets say Howard, and exceed the salary cap, and therefore not exceed the luxury tax threshold.
This is also true with trades because salaries have to match within a certain percentage of each other. Its possible to take back a little more salary than you send out, but the percentage is small, and it might put you just over the salary cap, but it wouldn't put you over the luxury tax threshold. Whats truely damming about the luxury tax in the new CBA is that the longer your over it, it goes up each year percentage wise. The first year is 1.5 dollars for every dollar over the threshold, but the second year I believe its 2 dollars and so on. So the Lakers for instance, who would have been looking at about a 40 million tax under the old CBA may be looking at around 60 mil this coming season and as much as 80 million the next season. It just keeps compounding until you find a way to get out from under it. I don't care how rich your are, you can't just keep giving away 60 to 80 million every year. I may be off on my figures and I'm sure the Capt will correct me if so.