The genius of higher taxes on the "rich". It really means less for the people. Unfortunately the people in charge are more focused on taking/stealing than on helping the people they claim to serve.
California YIMBY: RAND found that LA's 'mansion tax' has reduced large apartment construction by ~30% since 2023 and has cost local, county, and state agencies $452M in revenue.
Tenants in buildings that paid measure ULA taxes saw rent increases.
The author criticizes higher taxes on the wealthy, citing a RAND study which found that Los Angeles's 'mansion tax' (Measure ULA) has reduced apartment construction, cost government revenue, and increased rents.
关键要点
Higher taxes on the wealthy are criticized for ultimately harming the general public.
A RAND study shows LA's 'mansion tax' reduced large apartment construction by about 30% since 2023.
The tax reportedly resulted in a $452 million revenue loss for local and state agencies.
Tenants in buildings affected by the ULA tax faced rent increases.
