Mayor Villaraigosa Takes On Prop 13
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Mayor Villaraigosa calls for changes to Proposition 13, describing California's corporate tax structure a "Swiss cheese of loopholes and exemptions." On our partial rebroadcast of today's To the Point, with violence in Europe and political upheaval in the US, is the West losing confidence and hope? What's the role of wealth inequality?
Banner image: Los Angeles Mayor Antonio Villaraigosa addresses the Sacramento Press Club on August, 16, 2011. Photo courtesy of the Sacramento Press Club
Mayor Villaraigosa Takes On Prop 13 ()
The Mayor of Los Angeles is stepping all over what's long been called "the third rail of California politics," Proposition 13, which passed in 1978. Property taxes were on the rise, and people on fixed incomes were being taxed out of their homes. But Prop 13 didn't limit increases just for homeowners. It did so for business as well. Yesterday at the Sacramento Press Club, Antonio Villaraigosa called for change, a "split" tax roll, with different rules for homeowners than for business.
The Age of Outrage in Europe and America ()
Multibillion-dollar investor Warren Buffett has made headlines by suggesting that he and other rich people pay too little in taxes. In this Sunday's New York Times, columnist Roger Cohen wrote that "a feeling has grown in Western societies that uncontrollable forces are at work shrinking possibility. "History," he said, "has never seen a global power shift as radical as the current one that managed to be peaceful." We hear a lively debate.
- Roger Cohen: New York Times and International Herald Tribune
- Karsten Voigt: German Council on Foreign Relations
- Eric Schoenberg: Responsible Wealth
- Dan Mitchell: Cato Institute, @danieljmitchell
Which Way L.A.? is made possible in part by the Ralph M. Parsons Foundation, the Rosalinde and Arthur Gilbert Foundation, the Nathan Cummings Foundation, and the John Randolph Haynes and Dora Haynes Foundation, which supports study and research into policy issues of the Los Angeles region.
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