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Mott Smithat 0:00

It was called the mansion tax. They didn't read the 29 pages. Should we tax rich to pay for affordable housing? Yes or no? Well, yes. People are out there lying, saying it's created 10,000 jobs, which is absurd. When Measure ULA took effect, transaction volume in the city of Los Angeles above $5 million where Measure ULA works fell by 50%. Well, they projected would be up to a billion a year.

Mott Smithat 0:27

900,000 is all that's been spent on affordable housing. That has grave impacts to our economy that the people who drafted measure ULA did not fully account for.

Taylor Avakianat 13:16

So what uh makes you because you are very a an advocate for or against um a lot of things that are pro- housing, right? So is that I'm for pro You're for proh housing, excuse me. Yeah. Against measure ULA and things like that. That's sty housing. Yes. Is that just because you started in that business or what what because you're in the kitchen industrial space?

Mott Smithat 18:24

…lot of money for these social goods like helping low-income people who need housing. And um that that's that's all well and good, but you know what Measure ULA did, which was kind of a a riff on what San Francisco did with their Prop C back in 2018, was they they kind of defined mansion very broadly as any property over $5 million. And so that means that instead of just taxing the rich guy who's buying a $5 million house, they're also taxing the small business person who's trying to build an apartment building…