How would YOU fix it?

[tector]

Discount 2YO races (either sex) and 3YO filly races by 50% in purse amount for the calculation of graded earnings--they just aren't as relevant nowadays.

Discount races outside the US or Canada completely--if they want to run in the Derby, they can run in a prep or two here, too. It would probably be better for them to do so anyway, although some folks (e.g. Prince Megabucks of Dubai) are apparently too stubborn to realize it.

Add an also eligible list.

Done. If somebody wants to suggest that two or three spots are awarded outside of graded earnings, by committee, we can discuss it, but I don't think that is an essential reform. It would also allow a backdoor for talented foreign horses who don't prep here, so the Kentucky slaves would surely love this for their Arab masters.