Summary
Elon Musk suggested cutting Social Security, Medicare, and Medicaid in a Fox News interview, citing debunked claims about fraud and linking benefits to illegal immigration.
He falsely claimed millions of deceased individuals remain in the Social Security system, a statement previously refuted by officials.
While Trump has promised not to cut entitlement programs, Musk’s remarks indicate they are under threat, potentially impacting millions of Americans.
His rhetoric echoes far-right conspiracy theories, raising concerns about his influence on policy discussions regarding social safety nets.
Reminder: you paid taxes in order to receive social security when you need it. If they negate on that deal, ask for your taxes back.
Social Security’s “trust fund” is an empty pit of debt obligations. Benefits to current recipients are paid with incoming payroll taxes. Any difference is made up with additional taxes or monetary inflation, by way of Treasury bonds. They “reinvest it in the economy” if there’s ever a surplus, e.g., through military contractors. It finances the national debt.
Putting aside the quirks of that setup, the basic function is that the taxes you pay in now are not an investment in your own future, you’re basically just paying for the retirement of older people now. The expectation is that someone down the road will then pay taxes to finance your retirement. Hence, how SS was able to start paying benefits almost immediately (3 years) after payroll taxes started being collected.
Money back plus interest. Decades and decades of interest.
Don’t ask, take!
So storm the federal reserve like area 51?
Just tack on a huge refund the next time you file your income taxes. With the cuts to the IRS they’ll likely never contest it…
Sorry Elon fired all the help desk.
Fwiw the website is still up and it still says I’ll get my tree fiddy