The 30-year-old earned promotion to the top flight with the Royals last season and thinks that the amount of money invested in paying star players is becoming out of touch with reality.
He hoped that eventually the league would decide enough is enough and consider capping the wages players can earn.
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"But if you're talking about £200,000-a-week, that's ridiculous. Who needs that amount of money? Surely, someone will say 'that’s enough'.
"We're on the verge of getting out of control and we're starting to lose a bit of reality."
McAnuff was saddened by the example that high wages set to young fans of the game and the way in which ordinary supporters were being priced out of Premier League matches due to rising ticket prices.
He continued: "The most popular question I get from kids is 'what car do you drive?' What happened to them wanting to know what it was like to make your debut?
"Football is getting too expensive for fans and fans make football. Tickets for our game at Chelsea were £50 each. I know lots of people who couldn't afford that."