Salary Cap in Baseball?

With all of the free-agency signing this off-season in baseball totaling more than $1 billion, this being a record, should there be a salary cap? With a salary cap, this could open up even play between organizations. So a team like the Yankees couldn't get more players just because they have more money. Teams right now who don't have the money are suffering because players are leaving for the money. This could really damage an organization financially because their revenue won't be as high with the loss of all these players to other teams with more money. Those teams who struggle financially still have to find a way to compete and get players and this could draw them into bankruptcy. So I really think there should be a salary cap so teams can't dominate the league and other teams who don't have as much money can compete.