It's certainly true poor decisions by Twins management has wasted payroll. However,
1. Most of what is contained in Mackey's rant is unrelated to the Twins payroll. What the Yankees, or Phillies, pay their players, for example, isn't a factor in how much the Twins could, and should be spending. Drives up the cost of free agents? Sure, but that has nothing to do with the Twins available payroll. Nor, really, does spending poorly--but under budget--explain why they can't spend to
budget. Are they so convinced their general manager doesn't know what he's doing that they took budget away to ensure it's not spent at all, rather than spent badly? Because they spent $11m badly, they forego spending entirely, even if money is available?
2. The Twins themselves have said, many times, they'll spend 52% of revenue (not "50%," 52). Unless Kelly Thesier can't be trusted, Jim Pohlad himself said that:
So the issue isn't how much other teams are spending, or what they're spending it on, or the market size, the issue is, "are the Twins living up to the promises they've made to the fan base, and to the taxpayers who are paying for much of a new stadium?"
3. Any impartial look at available data indicates they haven't spend anywhere near 52% in at least 2 of the 3 seasons in TF, and barely exceeded it in one year. And that doesn't even address the legitimate question of whether or not they can afford to devote a higher percentage of revenue to payroll in TF than they could in the dome. Why would they need to devote tens of millions more to costs other than payroll now? Why was roughly $65m enough to fund everything other than payroll in the dome, but now they need $100m+?