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.
ALL THOSE YEARS the baby boomers were paying in more than social security was paying out.
Starting in the '60s or even maybe the '70s, all that money just being untouched, gaining interest, growing, compounding.
Heck, there ought to be plenty of money in social security! What happened to it? Huh? Somebody ought to tell us what happened to it. All that money the baby boomers paid in.
Shouldn’t that money be there, plus interest, to give them back?