Saturday Report 6/13/26 — We minted our first trillionaire the same week the White House floated loaning you money to survive a hospital stay

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— Forty-five years of Reaganomics finally rolled off the assembly line this week with its crowning achievement: the world’s first trillionaire. When SpaceX shares hit the public markets in the largest IPO in human history, Elon Musk’s net worth sailed past one thousand billion dollars, a figure with so many zeroes you need a calculator to count them and a heart of solid granite to defend them. Back in 1981, Reagan promised that if we just showered the wealthy with tax cuts and stopped enforcing antitrust laws, the blessings would trickle down onto the rest of us. Forty-five years later, the trickle has arrived: one man now commands more money than most countries while the people who actually build his rockets and bolt together his cars are still scrapping for a living wage and desperately begging for a union. Within hours, calls went up for an aggressive wealth tax, with one campaigner noting that a fortune this size “requires human exploitation, wage theft, wage suppression” as well as a tax code lovingly written by and for the man it enriches. The critics are right that trillionaires shouldn’t exist, and not out of envy: no human being earns a trillion dollars, they extract it, a dime at a time, from everyone standing below them. Musk didn’t break the system to get here. The system performed flawlessly, exactly as Reagan and the GOP’s billionaires designed it. The only question left is whether we keep calling this capitalism or finally admit it’s a just the 21st century version of a feudal estate with modern branding.

— The Trump administration has a bold new idea for Americans who can’t afford their medical bills: borrow the money from the very insurance company that’s already refusing to pay them. Under a White House proposal floated this week, cash-strapped patients would take out loans from their health insurers to cover the bills those same insurers helped inflate. It’s a scheme one Democratic congresswoman warned could “ruin people’s finances” while handing insurers a shiny new incentive to deny your care and then collect a fortune in interest on your desperation. I suppose we should admire the elegance of the GOP’s newest scam: the massive Republican donors win when you get sick, win again when you borrow, and win a third time when you default and they get a court to take away your house to repay your loan. That’s not a healthcare system that any other country in the world would recognize; it’s a payday-loan window with a stethoscope hanging in it. And before anyone wrings their hands about how we “simply can’t afford” something humane like Medicare for All, note that the Republican increase in Pentagon spending this year alone dwarfs the entire projected Social Security shortfall for 2034, which is the very “crisis” they keep invoking to justify gutting your retirement. We have bottomless money for missiles and putting Trump‘s name on everything, but not a nickel for Grandma’s knee replacement, and somehow the corporate media never quite finds the column inches to mention it. Forty-five years after Reagan taught us that government was the problem, we’ve finally built a GOP-run government that fulfills his claim.

— It turns out the “Advantage” in Medicare Advantage belongs entirely to the insurance companies. A pair of reports from the HHS inspector general released this week found that the nation’s largest Medicare Advantage plans — UnitedHealthcare, CVS Health, and Humana — rejected prior-authorization requests for long-term and rehabilitative care at rates that, in some cases, sailed past 70 percent. Across the industry, denial rates for long-term care ran anywhere from 8 percent up to a jaw-dropping 80 percent, a spread the inspector general’s office found genuinely alarming, and one University of Pittsburgh health-policy professor called “quite staggering.” Here’s the detail that most clearly shows what a scam this is: when patients actually appealed, the plans reversed their own denials a remarkable 95 percent of the time, meaning that first “no” was wrong almost every single time anyone bothered to take the (considerable) time and effort necessary to challenge it. Medicare Advantage plans collect a flat fee per patient from our government and then pocket whatever they don’t spend on your stroke recovery or your shattered hip, which means saying “no” to your care is, quite literally, how they enrich their shareholders and pay their senior executives with their multi-million-dollar-a-year salaries. Nearly 20 million Americans are enrolled with just these three companies, most blissfully unaware that their “coverage” is engineered to refuse first and pay later, if ever. For-profit insurers, the report found, deny more than nonprofits, because of course they do. And all of them deny more than real Medicare, which doesn’t even do pre-clearance so it never denies anybody. This is what you get when you hand Wall Street the keys to Grandma’s hospital room: the corporation always wins, and the patient always loses.

— A federal judge just slammed the brakes — again — on Trump’s $1.8 billion taxpayer-funded slush fund for his violent, murderous cult members. This week, U.S. District Judge Leonie Brinkema extended her block on the grandly titled “Anti-Weaponization Fund,” a $1.8 billion pile of your money that Trump’s Justice Department invented to compensate “victims of weaponization,” a category that conveniently sweeps in the people who stormed the Capitol on January 6th, smeared shit on the walls, and killed four cops while trying to “hang Mike Pence.” The whole thing sprang from Trump’s preposterous $10 billion lawsuit against the IRS over the leak of his own tax returns (total tax bill $750), and even congressional Republicans gagged hard enough to force acting Attorney General (and Trump criminal defense lawyer) Todd Blanche to declare “we’re not moving forward with the fund, period.” But hold the champagne. As Reuters reports, Trump’s allies already have a Plan B teed up: funneling payouts to loyalists through the 1946 Federal Tort Claims Act, which lets aggrieved insurrectionists file claims and lawsuits against the government and quietly settle out of court. “At my level, the fund is dead,” shrugged one senior DOJ official, all while leaving the back door propped wide open for the same money to stroll out a different exit. Hundreds of January 6th defendants have already filed their claims. With the Trump Crime Family and their shock troops, the grift doesn’t die; it just files an amended complaint.

— Nothing says “law and order” quite like masked federal agents tackling a man to the pavement at his kid’s preschool graduation while toddlers scream. That is precisely what unfolded in Baltimore this week, where ICE agents arrested two parents in the parking lot of Commodore John Rodgers Elementary School during a graduation ceremony as witnesses filmed and children wailed. The parents had their kids in the back seat when they were “ripped from the car,” according to Maryland Senate President Bill Ferguson, and teachers rushed the children indoors to spare them the spectacle. A parent recording the scene can be heard shouting that the agents were on school property, a fact that registered not at all with these masked, murderous thugs who increasingly treat the Constitution as if it were merely a polite suggestion. Baltimore had passed an emergency ordinance barely a month ago barring federal agents from arrests at “sensitive locations” like schools; doing their best imitation of Putin’s secret police, ICE shredded it like confetti while spitting on the graves of the authors of the Fourth and Fifth Amendments. Mayor Brandon Scott condemned the raid as a “disturbing incident” and made plain this kind of enforcement isn’t welcome in his city, while Governor Wes Moore noted that terrorizing children at their own schools makes precisely no one safer. But safety was never the point for these fascists. The point is the fear: the theater of masked, unidentified, armed, uniformed men snatching parents in front of weeping four-year-olds and broadcasting it as a warning to every family in America. This is what a fascist secret police force looks like in its toddler-traumatizing phase.

— Citizens United Alert! Maine’s Susan Collins — the senator who has elevated the furrowed brow of “deep concern” into performance art all while reliably voting however her biggest donors prefer — is mounting her reelection bid with the backing of nearly 100 billionaires. Her campaign has become an oligarchs’ support group project! Her opponent, Graham Platner, points out that his own operation runs on an average donation of $26 from actual human beings, even as corporate dark money floods into Maine to keep Collins right where the donor class wants her. This is the exact world five corrupt Republicans on the Supreme Court conjured when they ruled 5:4 in Citizens United that money is speech and corporations are people: sixteen years on, a hundred billionaires can simply buy a senator and call the receipt “democracy.” Concerned yet, Susan?

— Strange Alert! Our nation’s heroin addict health secretary, Bob Kennedy, is now actively cheering on clinics that inject autistic children — some as young as 18 months — with umbilical-cord stem cells in unapproved, unproven “treatments” that can run $20,000 a pop, occasionally after sedating the toddler with ketamine first. Desperate parents are promised near-miracles; what the FDA actually documented back in 2021 were reports of “blindness, tumor formation, infections” and worse. In sixteen months on the job, Kennedy has fired thousands of health officials, defunded $31 million in autism research, and waged open war on childhood vaccines, all while rolling out the welcome mat for the snake-oil salesmen he apparently regards as colleagues. The quack is coming from inside the house.

Comments on Friday’s Daily Take:

Rule #1 in the Dictator’s Playbook: Crush One to Warn a Thousand

The scariest part of Rule #1 in the dictator’s playbook isn’t that they attack the press or independent institutions... it’s how many people either cheer it on or stay quiet because they think it won’t affect them.

~ Rxan Smith

Just t be clear, this is nothing new. When I returned from being the first American reporter to visit North Vietnam in 1965 and reporterd that we were bombing cilvialian targets and were likely to lose the war, my passport was lifted, seven years of back rtaxes were audited, and I was blacklisted from brascast journalism by the workof the FBI. And a democrat was president. We’ve been here before

~ Christopher Koch

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My newest book, Who Killed the American Dream?: The Greatest Political Crime Ever Told is now available for presale from bookstores nationwide. It’s a modern-day telling of the “murder mystery” of how, in 1886, a great crime was committed against America by a cynical court reporter and an on-the-take Supreme Court justice that changed the course of American politics and led straight to Citizens United. It also details the massive ongoing cover-up of this crime and what we can do to fight back.