Proposed 'Luxury Tax' on Houses over 5000 Square Feet

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The Los Angeles City Council is thinking about next year's budget shortfalls from the slumping economy. One councilman already has a proposal for the municipal election, next March. Richard Alarcón has proposed a "luxury tax" on houses larger than 5000 square feet.

Credits

Guest:
Richard Alarcon - Los Angeles City Council - @Richard_Alarcon

Host:
Warren Olney

Producers:
Karen Radziner, Frances Anderton, Christian Bordal