US EditionElon Musk calls Social Security 'the biggest Ponzi scheme of all time' as calls mount to remove contribution caps for billionaires
- Elon Musk called Social Security 'the biggest Ponzi scheme of all time' during an interview with Joe Rogan, provoking criticism from Democrats like Alexandria Ocasio-Cortez.
- About 71.6 million individuals received benefits from programs run by the Social Security Administration in 2023, and the SSA warns that it may not pay full benefits by the mid-2030s due to funding issues.
- A report indicated that Social Security's trust funds may not cover full benefits starting in 2035, leading to questions about its financial sustainability.
26 Articles
26 Articles
'A South African Liar': Elon Musk Calls Social Security As a ‘Ponzi Scheme’ While Pocketing Billions from Taxpayers—Americans Clap Back
Not content with decimating the country’s federal workforce, Elon Musk told podcaster Joe Rogan Friday that Social Security is spiraling toward insolvency and must be reformed. Musk likened it to an illegal pyramid scheme where returns are generated not through smart capital allocation but the influx of money from new investors. “Social Security is the biggest Ponzi scheme of all time,” said Musk, drawing a rebuke from one X user who said, “It i…
Trump and Musk move towards privatization of Social Security with 7,000 job cuts
On Friday, as Elon Musk was calling Social Security “the biggest Ponzi scheme of all time,” the Social Security Administration announced 7,000 job cuts and a restructuring plan that will cripple the agency’s ability to serve the more than 70 million people who receive benefits each month.
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