 Complete the following phrase:  The highest-paid player in Major League Baseball MLB from the 2018 Major League Baseball season is Los Angeles Angels Center Fielder Mike Trout with an annual salary of 35.54 million on a 12-year contract for 426,500,000. MLB does not have a hard salary cap, instead employing a luxury tax which applies to teams whose total payroll exceeds certain set thresholds for a given season. Free agency did not exist in MLB prior to the end of the reserve clause in the 1970s, allowing owners before that time to wholly dictate the terms of player negotiations and resulting in significantly lower salaries. Babe Ruth, widely regarded as one of the greatest baseball players ever, earned an estimated 856,850  inflation-adjusted from 1934 dollars over his entire playing career. When asked whether he thought he deserved to earn 80,000 a year  inflation-adjusted, while the president, Herbert Hoover, had a 75,000 salary, Ruth famously remarked, What the hell has Hoover got to do with it? Besides, I had a better year 