Part 10/11:
Los Angeles’ experience with Measure ULA illustrates a fundamental lesson in public policy: well-meaning taxes can backfire if they disregard economic incentives. Taxing successful, high-value transactions appears to be a simple revenue tactic but ends up strangling the very growth it aims to support. Moving forward, policymakers would benefit from a balanced approach that encourages development, sustains fiscal health, and genuinely addresses homelessness and affordable housing needs—not through punitive measures, but through smart, economically sound strategies.