President Musk is coming for Social Security


Candidate Donald Trump promised not to touch Social Security if elected. But President Musk made no such promise, and is already spouting the usual lies to justify cutting Social Security benefits and privatizing the program:

“The billionaire argued Friday on “The Joe Rogan Experience” podcast that the United States government is “one big pyramid scheme” before blasting Social Security as “the biggest Ponzi scheme of all time.”

“When asked to clarify, Musk said, “Well, people pay into Social Security and the money goes out of Social Security immediately, but the obligation for Social Security is your entire retirement career. If you look at the future obligations of Social Security, it far exceeds the tax revenue.”

While President Musk is right that Social Security has always been a pay-as-you-go system and that when the trust fund runs out, it will only be able to pay ca. 78% of current benefits, that doesn’t make it a Ponzi scheme. 

What President Musk is doing is engaging in a Ponzi scam, gaslighting Americans into believing that they can’t trust the Social Security system enough to fix it. He wants to scam Americans who paid into the program and Americans who depend on it. Don’t fall for his scam.

https://www.huffpost.com/entry/elon-musk-social-security-ponzi-scheme_n_67c337cce4b049364f4586a3

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