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Elon 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.
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Anadolu AjansıAnadolu Ajansı

US Senate Democrats criticize Social Security cuts, Musk’s ‘Ponzi scheme’ claims

‘Social Security is under attack and at risk,’ says Senate Minority Leader Chuck Schumer - Anadolu Ajansı

·Ankara, Türkiye
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Atlanta Black StarAtlanta Black Star

'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…

·Atlanta, United States
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World Socialist Web SiteWorld Socialist Web Site

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.

·United States
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MyCentralOregon.comMyCentralOregon.com

Senate Democrats slam Social Security job cuts, attack Musk calling it 'Ponzi scheme'

Chip Somodevilla/Getty Images (WASHINGTON) — Senate Democratic leaders stood in support of Social Security benefits on Monday in the wake of the Social Security Administration’s announcement it’s planning to cut 7,000 jobs as part of “significant workforce reductions.” “Now we know that something we Senate Democrats have feared for a long time is coming true. Social Security is under attack and at risk,” Senate Minority Leader Chuck Schumer said…

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PIX 11PIX 11

Trump administration to downsize Social Security Administration

NEW YORK (PIX11) -- Elon Musk, the world's wealthiest person, who is also a senior advisor to President Donald Trump, is now setting his sights in recent comments on the Social Security Administration (SSA). "Social Security is the biggest Ponzi scheme of all time," said Musk. More Local News But in front of the local SSA office in Harlem, Steve, said Musk is something else – a threat. "I'm going up in there right now. You gotta be concern…

·New York, United States
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NewserNewser

Democrats Say Musk Showed Social Security Is a Target

The world's richest man has called Social Security a "Ponzi scheme," drawing outrage from Democrats while possibly undercutting his boss. "There are fewer babies being born," Elon Musk told Joe Rogan on his podcast Friday, "and you have more people who are retired that live for a long time and...

·Miami, United States
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thepatriotlight.com broke the news in on Saturday, March 1, 2025.
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