The Headlines - The $11 Billion Cost for One Week of War, and a New ‘Millionaires’ Tax’

Episode Date: March 12, 2026

Plus, Planned Parenthood’s new offering: Botox. Here’s what we’re covering: Pentagon Tells Congress First Week of Iran War Cost More Than $11.3 Billion, by Catie Edmondson Iran War Live Updates: Oil Tops $100 a Barrel as Attacks Spread Across Middle East, by New York Times reporters Charlie Kirk’s Group Expands Into High Schools. G.O.P. States Are Helping., By Richard Fausset A State of Wealthy Entrepreneurs Passes a ‘Millionaires’ Tax,’ by Anna Griffin A Planned Parenthood Clinic, in a Pinch, Turns to Botox, by Alisha Haridasani Gupta René Redzepi Steps Down at Noma Amid Allegations of Past Abuse, by Julia Moskin Tune in every weekday morning, and tell us what you think at: [e-mail]. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-access/audio?source=podcatcher. For more podcasts and narrated articles, download The New York Times app at nytimes.com/app. Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-access/audio?source=podcatcher. For more podcasts and narrated articles, download The New York Times app at nytimes.com/app. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

From the New York Times, it's the headlines. I'm Tracy Mumford. Today's Thursday, March 12th. Here's what we're covering. In a closed-door briefing yesterday, Pentagon officials gave lawmakers the most comprehensive assessment yet of how much the war in Iran has cost. According to people familiar with the briefing,

they estimated that the first six days alone totaled more than $11.3 billion. A big part of that is the cost of munitions. Some of the bombs used on Iran cost over half a million dollars each, and missile interceptors to fend off retaliatory attacks can cost $3 million a shot. The estimate did not include all of the costs of the conflict, including the buildup before the strikes. So lawmakers expect to see the number grow considerably once all the calculations are in.

Also on the economic front. A gallon of gas today is $3.58 on average. 60 cents more than it was a month ago. 60 cents more. Oil prices have continued to rise, something Democrats are pointing to as a consequence Americans are feeling at the pump. And the danger of a shortage of oil and prices going up further is getting greater, not lesser. Yesterday, in an attempt to tame the markets, a coalition of more than 30 countries agreed to release the largest amount of oil ever from their strategic reserves. But even after that announcement, oil kept climbing, spiking over $100 a barrel last night.

It's driven by fears that the conflict in the Middle East will cripple a major part of the world's oil and gas supply for an extended period. The Strait of Hormuz, a key passage for oil and gas, continues to be a flashpoint, despite the U.S. taking out Iranian naval vessels and mine-laying ships. Yesterday, at least three cargo vessels and two tankers were hit in the Gulf or near the strait. President Trump's faced repeated questions about the security of the waterway. Are you talking to CEOs of various oil companies encouraging them to use the straight-up for moves right now? I think they should. I think they should use this.

He's insisted that oil tankers should sail through. He also wrote on social media this week that, quote, Only fools would not see the surging oil costs as a small price to pay for global security. A few other threads were covering on the war. Three days after being chosen as the new Supreme Leader of our country, Iran, Moshaba Hamine has not appeared in public, on video, or issued any written statements. Iranian officials, speaking on the condition of anonymity, say that's because there's concern any communication could reveal his location and put him in danger.

And also, because his legs were injured in the initial strikes that killed his father, the previous Supreme Leader. The extent of his injuries are unclear. Also... I mean, this is why a lot of people feel betrayed, right? And he ran on no more wars. and these stupid senseless wars, and then we have one that we can't even really clearly define why we did it.

Joe Rogan, the influential podcast host who gave Trump a boost in 2024, said the president's supporters now feel like he betrayed his own campaign promise to keep the U.S. out of foreign conflicts. Conservative podcasters like Megan Kelly and Tucker Carlson have also criticized the war. So far, polls have shown that most Americans oppose the attacks on Iran, And lastly, the preliminary findings of a military investigation show that the U.S. was at fault for the deadly strike on an elementary school in southern Iran. People briefed on the investigation told the times it was a targeting mistake. The school building used to be part of a naval base, but it was partitioned off over a decade ago.

The system for picking targets and verifying targets is very complex. There is supposed to be a double check. There is supposed to be a triple check. There are levels built into the system that are supposed to catch this. But we are in an era when they want the military to move fast, they want the military to be willing to break things. The system of checks broke down. We do not fully know how and when, but the bottom line is 10-year-old data was used and it

resulted in a catastrophe. My colleague Julian Barnes walks through the findings on today's episode of The Daily. Now three stories to watch around the U.S. First, in Arkansas. This proclamation encourages every Arkansas high school and college to engage in civil, civic discourse by starting a club America or Turning Point USA chapter. Governor Sarah Huckabee Sanders joined a growing coalition of Republican officials that are pushing to expand the influence of Turning Point USA in schools. The group was founded by Charlie Kirk, the conservative activist who was assassinated last

fall. Turning Point has said the goal of its chapters in schools is to foster students' interest in, quote, freedom, free markets, and limited government. Don't let anyone disenfranchise you because you're a young man, especially a young white male man. Erica Kirk, Charlie's widow, was also in Arkansas yesterday to celebrate the new partnership Similar plans have been established in Indiana, Florida, Texas, and elsewhere, and there are now more than 3,000 high school chapters around the country. The partnerships do not appear to involve taxpayer money, and they're not mandates.

But critics have raised concerns about the state's embrace of them, considering Kirk's hard-right views, his dissemination of conspiracy theories, and his criticism of gay and transgender rights. They say the state partnerships could be seen as a kind of government seal of approval. Next, in Washington state, lawmakers voted yesterday to create what's been dubbed the millionaire tax. It's a notable development in a growing movement to raise taxes on the wealthiest Americans. It will impose a roughly 10% tax on earnings over a million dollars and is projected to affect around 20,000 households in the state. Republicans there have argued it will de-incentivize entrepreneurs from starting businesses in Washington, which has a long history of lucrative tech startups.

At least one billionaire has said he's leaving. The former head of Starbucks, Howard Schultz, wrote on social media that he's moving to Florida. Jeff Bezos, who founded Amazon in Seattle, also moved to Florida from Washington in 2023. Democrats, meanwhile, said many of the state's wealthy residents had already benefited from federal tax cuts, and quote,

maybe they'll be happy to stay here and invest in the community that has given them the opportunity to thrive. And in California. I like to say that when faced with a crisis, our doors do not close, they open wider. A planned parenthood clinic says that in order to survive deep federal funding cuts, it's turning to a new source of income, cosmetic procedures. The Sacramento-based clinic has begun offering Botox injections, and there are plans for three other clinics in the area to start by June.

Nationwide, planned parenthood provides birth control, pre-nationable. natal care and sexual health screenings for millions of patients, many of them on Medicaid. Significant cuts to Medicaid reimbursements, combined with rising costs, have presented enormous challenges to keeping the lights on. The chief medical operating officer, who oversees the Sacramento Clinic and others, said all the Botox appointments that they've opened up have been booked. And she stressed that it's not providing aesthetic treatments at the expense of other traditional health services, saying, quote, this isn't an either-or situation.

And finally, amid allegations of past abuse, the fame chef René Rezzeppe has stepped down from Noma, one of the most famous fine dining establishments in the world that racked up Michelin stars. Redzeppe rose to prominence at the Copenhagen restaurant, turning himself and it into culinary icons. Noma became famous for its complex, fragile dishes that could contain 20-plus ingredients. things like tiny plums wrapped in kelp. Employees there told the times that between 2009 and 2017, Red Zeppi punched members of staff and jabbed them with kitchen implements. One former cook said he was slammed against the wall and hit in the stomach after Red Zeppi noticed he left a tiny tweezer mark

on a flower petal as he placed it on a dish. Some 30 former employees said being hit by him was routine. After the Times published their accounts, Noma's soul. out pop-up in Los Angeles came under fire. Corporate sponsors like American Express pulled back and protesters gathered there, waving signs and chanting. Yesterday, on Instagram, Red Zeppi posted a message announcing he would step down. He said in recent years he had worked to be a better leader and changed the culture at Noma, but, quote, I recognize these changes do not repair the past. An apology is not enough. I take responsibility for my own actions. Those are the headlines. I'm Tracy Mumford. We'll be back tomorrow with the latest and the Friday news quiz.