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Weekly-Opinion
Trillionaire Welfare Baby Elon Musk Is Born!
After learning how to game the system, Musk took American loans, American intellectual property, American space, American airwaves, and turned them into a wealth engine for one man.
Jun 11, 2026
SpaceX goes public Friday at around $1.7 trillion. Elon Musk owns enough SpaceX stock that, on top of everything else he holds, Musk becomes the first person in human history to cross the trillion-dollar line. The coverage will be all hype. Unprecedented. A genius. Where’s he going next? What does the future hold?
It wasn’t like Elon Musk invented some amazing capacity. He didn’t do something transformational for the world. He didn’t harness electricity. He didn’t invent the transistor. He didn’t invent rocket flight. He didn’t invent satellite technology. He didn’t even make them much better.
What he did was learn how to game the system. He took what America built through generations of investment and generations of hard work and turned it into a profit center for himself. He took American loans, American intellectual property, American space, American airwaves, and turned them into a wealth engine for one man.
In a purely capitalist system, SpaceX wouldn’t exist. It would’ve died in 2008. The company was broke, three rockets had failed, and Musk was burning the last of his money. Then NASA wrote a $1.6 billion contract.
Tesla exists because of a half-billion-dollar loan from the American government, handed over in 2010 when the banks wouldn’t touch him. The deal gave the government the right to buy three million shares of Tesla stock at a locked-in cheap price. That was our cut if the company took off. The company took off, and Musk rushed to pay the loan back nine years early, because under the deal, early repayment canceled the government’s shares. They were worth about $270 million the week he wired the money, and Tesla’s stock has multiplied many times over since. The press called the repayment a triumph. We got our money back with a little interest, and he kept the stock the American people were due.
SpaceX is the same story just bigger. In a purely capitalist system, SpaceX wouldn’t exist. It would’ve died in 2008. The company was broke, three rockets had failed, and Musk was burning the last of his money. Then NASA wrote a $1.6 billion contract for cargo runs to the space station, and that money built the Falcon 9. The people who study this industry say it plainly. NASA is what saved the company when it was on the brink of bankruptcy.
And NASA by then was an agency we’d been squeezing since the 1980s. We decided, instead of doing things ourselves as a nation, instead of demanding the lion’s share of what we’d developed over sixty years of rocketry and satellites and spaceflight, that we’d hand it off to billionaires and let them compete for the contracts. SpaceX now holds around $22 billion in federal contracts. Across the whole Musk empire the public money runs closer to $38 billion. The launch pads, the airwaves, the satellites overhead, the early customers, the technology our space program spent two generations developing. He built on all of it, and we kept no share of it.
I’m not saying SpaceX is bad at rockets. The rockets work. But outbidding Boeing and Lockheed, the most bloated contractors in America, is a low bar, and he cleared it with technology our space program developed, on contracts we paid for. And China is proving right now that none of it was one man’s miracle. They’re behind on reusable rockets and behind on launch rates, sure. They’re also closing fast, as a national project, with state companies and state-backed startups and satellite constellations in the tens of thousands. Getting to space is something a country can decide to build and own. We decided to hand it to one man instead.
The rest of his fortune sits in Tesla, and that deal is even worse. Tesla is worth more than every other major carmaker on the planet combined. Toyota, BYD, GM, Ford, Volkswagen, Honda, Mercedes, BMW, all of them together, still short of Tesla. Plenty of those companies earn more actual profit than Tesla does. Toyota alone makes several times Tesla’s money. The valuation isn’t a measure of the business. It’s an obvious bubble, one of those bubbles people will look back on like the tulip bubble and ask how anybody ever believed it.
SpaceX now holds around $22 billion in federal contracts. Across the whole Musk empire the public money runs closer to $38 billion. The launch pads, the airwaves, the satellites overhead, the early customers, the technology our space program spent two generations developing. He built on all of it, and we kept no share of it.
Meanwhile the tariffs are the only reason Chinese carmakers aren’t whipping us in our own market. BYD passed Tesla as the biggest seller of electric cars in the world, and it makes a good one for around ten thousand dollars. Musk has admitted himself that without trade barriers, Chinese automakers would demolish most of their rivals. The tariff wall protects the whole American industry, and Tesla is its single biggest beneficiary. We’re babying these companies instead of pushing them to get better, and we’re not taking a dime of ownership while we do it.
They’ll tell you the wall is national security. It isn’t. We haven’t kept our means of production. We don’t make enough steel even for ourselves, and that’s while we’re barely building anything. Start building at scale again and we’d be importing even more of it. We can’t build transmission lines or move energy around this country. We’ve lost the machine tools. We shipped the means of production to China and other countries, and now we’re handing what’s left to a handful of billionaires. National security would be making these companies better. It would be forcing them to share the patents we paid to develop. It would be forcing a universal charger. It would be making them earn their money through quality production that competes on the open market, not through bubble valuations.
Then they handed him our retirement accounts. When a company joins a major stock index, every fund tracking that index has to buy it. Nobody decides the company is worth the money. The rule says buy. So every two weeks tens of millions in paychecks pour in on autopilot. SpaceX wanted that money sooner than the rules allow, because Elon Musk is special, apparently. His advisers pushed the index providers to change the rules, and two of the three folded. Nasdaq rewrote its policy so a company like SpaceX can join in 15 trading days instead of three months. Russell cut its wait to five. Somewhere around $22 to $27 billion in automatic buying will hit a stock with almost no shares actually trading. The S&P 500, the biggest index of them all, refused. It said earn your way in, a company that loses money doesn’t qualify. One gatekeeper said no. Two said yes. The rules got bent for him, and that’s not speculation. It happened. One more handout, except this time the money is yours, pulled out of your paycheck and pointed at his stock whether the price makes sense or not.
We’ve watched this movie before. Amazon went a decade without real profits and the market funded it anyway, because everyone could see the government handing it advantage after advantage. Bezos planted the company in Washington State to dodge sales tax, and for twenty years Amazon skirted sales taxes across most of the country, a built-in discount on every order that local stores couldn’t match, because they had to charge the tax. It crushed them. Then cities lined up to hand the richest man alive billions more in breaks for a headquarters. We supported these guys, who then took everything and ran.
Now we’ve created a class of men who hold more wealth than many states. Musk holds more than many countries. That concentration gives one human incomprehensible power, and we will hand him more of it every year. We outsourced our production to China. Now we’re outsourcing our state itself to a few men, who just sub it back out to us.
Tax the oligarchy and the money flows back as rent to the same oligarchs, the medical ones, the housing ones, the tech ones, and we get nothing for it. No power, no stability, no better income. We get a company town as a national economy.
The answer is not a wealth tax. Tax Musk and Bezos and Zuckerberg, pull the money into the government, push it back into broken systems, and you haven’t restructured a thing. Pull wealth from Musk and pour it into a healthcare system that already swallows a huge percentage of dollars before they reach a patient, and you don’t get better health or longer lives. You get more valuable healthcare companies. Pull it into housing allowances and down payment assistance, and you don’t get cheaper homes. You push the prices up, hand the gain to private equity firms that already own the housing, and make it harder for the next family that wants to own a home. A wealth tax spreads a little money around the top and leaves the same people owning the same things. It doesn’t move power. Tax the oligarchy and the money flows back as rent to the same oligarchs, the medical ones, the housing ones, the tech ones, and we get nothing for it. No power, no stability, no better income. We get a company town as a national economy.
The answer is ownership. Take back a stake in what was built with our money, our research, our protection. And before anyone says it can’t be done, Donald Trump has shown us it’s possible. His administration has taken a 10 percent stake in Intel, stakes in lithium and rare earth companies, and a golden share in US Steel. The taboo is broken. The government demanding equity for its support is now just a thing that happens.
But the golden share in US Steel is veto power with no money in it, a say with no stake. The Intel shares are also money with no say. None of it comes with the part that matters, which is input on where these companies go and what they do with the resources we let them use. We protect their intellectual property, most of which we developed. We protect their markets. We give them our military, our courts, our FBI, a stable country to get rich in. And what we’re getting back is poorer and sicker, with a shrinking share of the things that are ours.
Real public ownership means both. The profits and the say-so, together, the demands any investor would make. When the public builds the thing, the public owns a piece of the thing. Call it American Equity. We knew how to do this. The New Deal did it. The Arsenal of Democracy did it. The country that built the Transcontinental Railroad and the New York City subway did it. That system, the one Hamilton started with public credit behind American manufacturing, is the system China runs today. They took our playbook. We traded it for stock market rackets.
We can raise hospitals. We can send rockets into space. We can launch satellites, and we can do it for ourselves. There’s nothing particularly amazing about Elon Musk except his willingness to fleece the American people out of what’s theirs. So stop. Stop handing him the contracts. Strip the special treatment. Claw back the intellectual property and the advantages we built for him, and go to the moon ourselves again.
They stop existing because they fail to come together and remove the rot, the corruption, the inequality, and demand accountability from the people who’ve dodged it the longest. We’re at the part of the cycle where we take our stuff back, or we fail.
There’s a cycle to this. Countries in the spot we’re in generally stop existing. Not because they lack potential. Not because they have nothing worth producing. They stop existing because they fail to come together and remove the rot, the corruption, the inequality, and demand accountability from the people who’ve dodged it the longest. We’re at the part of the cycle where we take our stuff back, or we fail.
Today they crown the first trillionaire. They’ll say he earned it. The truth is simpler and uglier. He’s a welfare trillionaire. Half a billion in government loans, tens of billions in government contracts, sixty years of our research. We made him.
And a wealth tax won’t unmake him, because taxing the mega oligarch just funds the baby oligarchs. The only way to reclaim the power they’ve taken from us is to take back some of what’s ours, some of our capacity, some of our infrastructure, our share of the things we paid to build. Bernie Sanders said it this week, the public should own half of the big AI companies. We need to be thinking a lot more along those lines. If we want homes people can afford, healthcare that doesn’t bankrupt us, and work that pays, it starts with owning things again.
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US Citizens Must Stop the Madness Their Empire Imposes on Them and the World
Today, the United States has the opportunity to prove to itself and to the world that the mistakes committed by its government do not reflect the desires of the US people.
Jun 11, 2026
Since January 2026, when the intensification of US policies aimed at suffocating the Cuban people began, I have had the opportunity to travel to the island three times. Each time I return with my heart a little more broken, but also with a stronger conviction that we need to defend Cuba.
As a Mexican, I have received, on behalf of my compatriots, thousands of expressions of gratitude and hugs that the Cuban people send to the Mexican people. Every time I am there, I speak about the empathy and understanding we have toward Cuba, about the great efforts ordinary Mexicans make to bring a few kilos of rice to collection centers. And when I listen to Cubans, I learn a little more about the deep history that unites us.
But as a Mexican American and a binational activist, I also carry the weight of understanding the average US citizen. After many years of living in the United States, I continue to be surprised by how deeply the dream of democracy lives within people there, despite the fact that the country has been experiencing a deepening democratic crisis for years.
The deprivation imposed by Washington on the Cuban people for decades is now being reflected within the very core of the empire itself. It is suffered not only by migrants, Native Americans, Black communities, and the historically oppressed. Today, that same yoke has reached a white middle class that is beginning to feel the collapse of freedoms originally created for them.
Only the people of the United States—and no one else—can carry out the transformations their own country needs.
Fortunately, people in the United States can learn much here from Latin America—and Cuba in particular. They can learn from the region’s long history of struggle against Washington’s domination—and from the long construction of democratic processes from below that go far beyond just elections.
The resilience and social fabric the Cuban people have built are unique, just as unique as the oppression caused by the blockade the US government has maintained for all these decades. The United States needs public healthcare, free access to university education, and affordable housing. It needs to stop investing the billions it spends on war and instead invest that money in its own people. Cuba has done that.
The dream of democracy in any country is built beyond the ballot box alone, through projects that people themselves embrace and carry out. Today, the United States has the opportunity to prove to itself and to the world that the mistakes committed by its government do not reflect the desires of the US people. Today, as C. Wright Mills said 60 years ago, “Cuba’s voice must be heard in the United States, because the United States is too powerful and its responsibilities to the world and to itself are too great for its people not to hear the voices coming from the hungry world.”
The United States is preparing for another electoral cycle while its policies of war and interventionism throughout the Global South get reaffirmed.
At the same time, the island of 10 million inhabitants is preparing to continue resisting in the face of the possibility of an attack. In Cuba’s “Family Guide for Protection in Case of Military Aggression,” one can read recommendations for what to pack in a backpack: identification, a radio, candles, food, medicine, and toys to help distract children.
A recently published poll by the Center for Economic Policy Research (CEPR), a think tank based in Washington, DC, reveals that more than 60% of US citizens oppose a war with Cuba. At the same time, solidarity networks with Cuba in the United States—which have existed since the beginning of the blockade—are reactivating with renewed strength.
But can US citizens truly stop the madness their own empire imposes on them and on the rest of the world? Let us hope so, because only the people of the United States—and no one else—can carry out the transformations their own country needs. Only then will Cuba, the United States, Mexico, and the rest of the world be free.
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Colorado Voters Aren't Foolish: Reading Between the Lines of the Dem Gov Debate
Colorado Attorney General Phil Weiser stood firm on his answers and invited more collaboration. I believe he will make a fine governor for Colorado—for all of us.
Jun 09, 2026
On Thursday evening last week, I attended the Colorado Democratic gubernatorial debate at the invitation of Colorado’s attorney general, Phil Weiser. Weiser and US Sen. Michael Bennet are facing off in the upcoming June 30th primary.
Colorado’s next governor needs to be aware that not having enough money to retire comfortably is not a moral failing and that we deserve the same protections as those who are more financially set in life. We support AG Weiser to be our next governor in large part due to his fight back, intelligence, and decency. Yet what solidified that support following the debate was knowing what wasn’t said and why it wasn’t said—and knowing Weiser didn’t play those games with those partaking in the debate.
We do not like being played for fools, and Weiser never seems to do that—though he is aware we are not wealthy donors or wealthy at all. Listening closely to what was said and not said is a skill I’ve honed after raising six children and after working in and around political folks in Washington, DC and closer to home. Even as a child, being able to read a room or figure out if I’m in danger has been a necessary survival skill. As a senior struggling with my share of health issues and as primary caregiver for my husband when he needs care, I know that aging in Colorado in Trump’s America requires me to be more vigilant than ever—and we are in danger, friends.
While Weiser and Bennet are not miles apart in their positions on some key policies, and voters might argue the fine points of policy differences, two sections of the debate spoke volumes to me about credibility and being seen as a voter smart enough to see through a ruse.
Phil Weiser seems to want people like me to be part of his political work—his public service—and he believes I am intelligent enough to know when the BS factor is out of control.
Michael Bennet is a fine orator. His years in the Senate have allowed him great practice for that skill. I’ve never found that his diatribes on the Senate floor in DC (as covered by his campaign and sometimes local media outlets) helped me or even slowed down the relentless American-dream-crushing march of the current federal government’s behavior. I’m afraid to lose my Medicare or my Social Security mostly because I don’t want to burden my children or grandchildren. Those programs are federal, not state.
Bennet chastised Weiser for not fighting the first Trump administration enough from his state position even though Bennet has supported many Trump nominees and even some policies. He said he did so because of the existential threats Colorado faces in areas those Trump nominees control and areas in which we need federal funds. Really? So, as Bennet proclaimed, the easiest vote in America is one against Trump, I thought to myself—what the hell exactly does that mean? It tells me that I cannot trust Bennet to do his job right now as the people of this state depend on him to do, and if I cannot trust he will protect this democracy or my earned benefits of Social Security and Medicare—and that he will do everything in his power to oppose blackmailing bullies—I cannot trust him to be Colorado’s governor.
In contrast, Weiser said he would never bow to that sort of Trump-style political gamesmanship with someone threatening our rights and our economic safety as a state. Perhaps that is Weiser’s personal history as the son of Holocaust survivors, and yet, it must also be the stance of those of us who believe in the Constitution of this nation and this state. Cooperating with an administration that devalues my life and lives of anyone in our human family is unacceptable, and it is not leadership. Appeasing a despot who finds joy and power in his cruelty has never worked and never will. Trump must be opposed at every turn.
No, Sen. Bennet, it isn’t so hard. Do all you can from where you are now—fight in your current position for which you are paid by us. If young people are angry about the Dems, it’s because they do not see the fight back or even the direct challenges to almost everything we fought to secure on the federal level. Stopping the forward march of Project 2025 comes before building new ways to confront our shared futures. Where were you, Sen. Bennet? Yelling and smooth orating doesn’t save anything or prove your worthiness to lead on the state level. Our erudite rants make for great sound bites, though.
My second point of recognizing deception was in Michael Bennet’s assertion that he hasn’t even thought about who he’s going to appoint (if he is elected our next governor) to fill the rest of his Senate term. It’s silly to expect anyone to believe that. While he said it would be someone under 50 years old, he wants you and me to believe he really hasn’t thought about it at all. Come on. He went on to say he hasn’t had any conversations at all here in Colorado about his favored appointee. Did you read that carefully? I’m sure the conversations he has had haven’t actually been in Colorado. He hasn’t spent that much time here, I don’t think. Access to him is very tightly controlled, and letters from Coloradans are answered with form responses. His life centers on DC, and his “conversations” about his Senate replacement likely were there with US House reps from Colorado or in New York with Michael Bloomberg (one of his most generous donors).
So, bottom line for me is that Phil Weiser seems to want people like me to be part of his political work—his public service—and he believes I am intelligent enough to know when the BS factor is out of control. I don’t want my governor to appease Trump or anyone else who harms us all in the manner of a mob boss or dictator, and I want to know who Bennet favors appointing to his Senate seat, if it’s vacated. Those things matter as we face the future together.
Phil Weiser stood firm on his answers and invited more collaboration. I believe he will make a fine governor for Colorado—for all of us. And a vote for Phil Weiser doesn’t have any mystery attached. Strong and unwilling to honey up to bullies, clear about policy, and ready to fight back and move forward—that’s our AG Phil Weiser. This time in our history demands that and more from us all, not just the people we elect. When politicians play us for fools, we can all rise to this moment and make sure history records our courage, our decency, and our sacred honor shown to one another.
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A Disgraceful Hegseth Dishonors Those Who Gave Their Lives on D-Day
It is not surprising that Hegseth cannot identify with the men who fought on D-Day.
Jun 08, 2026
If you have ever had the opportunity to visit the Normandy American Cemetery in Colleville-sur-Mer, France it is something that stays with you. The rows of white gravestones silhouetted against green grass and blue sky bear silent and eloquent witness to what happened on June 6, 1944. The cemetery contains the graves of 9,389 of Americans, most of whom lost their lives in the D-Day landings and the battles in France in 1944.
From the cemetery, you can see down to Omaha Beach the bloodiest part of the D-Day battlefield. While estimates vary, 2,400 to 3,600 total American casualties (including killed, wounded, and missing) occurred on Omaha Beach on D-Day, June 6, 1944. For me, the most moving part of the Cemetery is the Walls of the Missing where inscribed 1,557 names of the soldiers and sailors who were missing in action and have never had their bodies recovered.
For decades, American politicians have been visiting the Normandy Beaches to pay tribute to all the Americans and Allies (primarily British and Canadian) who fought on June 6, 1944. Particularly well-known is the speech that President Ronald Reagan made in June of 1984:
The men of Normandy had faith that what they were doing was right, faith that they fought for all humanity, faith that a just God would grant them mercy on this beachhead or on the next. It was the deep knowledge—and pray God we have not lost it—that there is a profound, moral difference between the use of force for liberation and the use of force for conquest. You were here to liberate, not to conquer, and so you and those others did not doubt your cause. And you were right not to doubt. You all knew that some things are worth dying for.
For an American politician, remarks at the Normandy beaches ought to be simple and straightforward. All you have to do is pay tribute as best you can to the extraordinary sacrifice made on June 6, 1944. As hard as it is to believe, US Defense Secretary Pete Hegseth failed this simple task. Rather than just pay tribute to the efforts of those who “hit the beach” on June 6, 1944, Hegseth launched into an anti-immigrant and far-right rant. As the New York Times reported:
In his remarks, Mr. Hegseth said that “freedom is not free” and especially praised the role played by American troops, but said that over the past eight or so decades, some European countries had grown “comfortable.” “Today, different European beaches are stormed by different dangerous ideologies,” he said. “Boats and men arrive. When will European capitals do something about that invasion? Or is it too late?”
I am sure it escaped Hegseth the fact that many of the Americans he heralds for their sacrifice were the sons of immigrants to the United States. To compare refugees coming to Europe fleeing war and economic oppression with Nazi tyranny defies belief.
It is not surprising that Hegseth cannot identify with the men who fought on D-Day. They were not the much hyped “war fighters” ignoring politically correct rules of engagement that Hegseth celebrates. Instead, they were ordinary men doing extraordinary things to defeat the most terrible tyranny the world has ever seen. History will remember the deeds of those who defeated Nazi tyranny, while Hegseth's far-right rhetoric will be nothing more than a footnote to a sad chapter in American history.
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