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- cross-posted to:
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Summary
Elon Musk called Social Security a “Ponzi scheme” on “The Joe Rogan Experience,” claiming it’s unsustainable due to long-term obligations exceeding tax revenue.
Critics, including Sen. Bernie Sanders, accused him of pushing privatization to benefit the wealthy. Musk also made false claims about Social Security mispayments.
His comments come amid looming Social Security cuts and restructuring. The Social Security Administration warns of potential fund shortages by 2035.
Democrats advocate for raising the tax cap on high earners to strengthen the program.
It’s not just recently, conservatives have been threatening social security for decades.
Recently as in the last few decades. Reagan pretty much started all this bullshit, and it’s been a tug of war since.