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Of course the luxury tax is leverage as to the amount of the contract. We saw it last year with Wesley Matthews in his Dallas deal. He was going to sign for $12M when it looked like the Mavs had Jordan agreeing to sign with them. Once that went away, Cuban raised him up to a max contract. Without the threshold, there's no limit in place to keep the amount of Harkless's contract down as low as it was. Could he have gotten max money, no, but the Blazers have a track record of not being stingy.
I agree the LT is leverage. It was at least a reason given for a "take it or leave it" offer that was as generous as the team could make it.
Mo could have bet on himself and become a UFA, had he signed the QO. But he probably looked at next year's class of FAs, the teams with money to sign guys, and the risk of injury or failing to play well enough for a big contract, and signed.
The risk of being $500K from the LT line is that one of the guys earns a bonus (MVP, all-star, 6MOY) that's more than the $500K - whoops, over the LT.
Guys singed on 10 day contracts or vet minimum for part of the year are prorated. As the season goes on, we can fit guys under the LT still.

Return on Investment is my professional career so tend to look at things through those glasses.
As per the follow up, Barton has more production per $ even if their salaries were exactly the same.