Why Have a Rookie salary cap?

1) In the old days it could be argued that the league needed to reign in the salaries of entry level players.  Else we'd see NFL-like hold outs where players, especially top line talent, would either demand outrageous money or demand their rights be traded (Lindros).  However these days with their being a hard salary cap in place for ALL players it seems there is little need to have yet another cap for entry level players.  Teams are already limited on what they can pay so a new player wouldn't have unlimited leverage like before.

2) Now, we can understand the limit on allowing players to become UFA until they have played a number of seasons within an organization.  However the NHL will soon have to wake up to the fact that the burgeoning rival European league, the KHL can give these same youngsters higher salaries, tax free.  We don't anticipate your average Canadian junior star to bolt for Eastern Europe, but you can bet your bottom ruble that the same won't be said for young Euros.

3) An already slow drain of Euro talent could hasten. While some jingoistic types might like this, we at Fauxrumors want the NHL to continue to be The best hockey league in the world. To do that they need to attract/retain the best players. We feel the rookie salary cap is now duplicitous and no longer necessary.  What do you think?