Scotland is considering reshaping their economy to make it more democratic, locally orientated, and sustainable.
The proposed legislation would foster worker owned co-ops, livable wages, land use for the common good, and more.
It's a model the US should take a good look at. 🧵
Scotland’s Community Wealth Building (CWB) law, proposed last March, is headed to its Stage 1 debate in November.
The bill harnesses momentum in local economic activity, spearheaded by anchor institutions—places with a strong community presence. parliament.scot/-/media/files/…
California’s 214 billionaires are panicking over a ballot proposal that hasn’t passed yet.
This November, California will vote on a one-time 5% tax on billionaire wealth.
Billionaires are up in arms, as is Gavin Newsom—who says he’ll “do what I have to do to protect the state.”
The Billionaire Tax Act responds to Trump’s OBBB, which strains California’s critical infrastructure by cutting around $100B in federal funds.
The goal? To keep California’s health care and education systems from collapsing amid skyrocketing costs and employee burnout.
The proposal vows to protect access to quality, equitable health care while supporting K-14 public education and food assistance programs through a one-time, 5% wealth tax.
A billionaire tax could “stop the health care collapse,” currently facing California’s working class.
THREAD: A small handful of companies are propping up the U.S. economy.
GDP growth is overly reliant on one sector: AI.
And the numbers are going up in no small part because these companies keep investing in each other.
On Tuesday, Nvidia and Microsoft announced that AI startup Anthropic will buy $30 billion of cloud computing capacity from Microsoft, “powered by Nvidia.”
As part of the deal, Nvidia agreed to invest up to $10 billion in Anthropic, and Microsoft will invest up to $5 billion.