🚨 Elon Musk Calls Social Security ‘The Biggest Ponzi Scheme of All Time’

Billionaire entrepreneur Elon Musk has ignited controversy by comparing Social Security to a Ponzi scheme, warning of its potential insolvency as fewer working-age Americans contribute to the system while retirees live longer.

Speaking on the Joe Rogan Podcast, Musk argued that the current “pay-as-you-go” structure—where workers fund retiree benefits—was designed under outdated assumptions of a steadily growing workforce. With over 75 million baby boomers set to retire by 2030 and declining birth rates, he believes the system is unsustainable in its current form.

📢 “Social Security is the biggest Ponzi scheme of all time,” Musk declared, sparking a nationwide debate over entitlement reform.

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⚖️ Growing Concerns Over Social Security’s Future

💰 How Social Security Works

• Workers contribute 6.2% of their wages (matched by employers) up to $176,100 annually.
• This funds benefits for retirees, a system that depends on a larger workforce paying in.

🔻 The Problem:

• Fewer working-age Americans are paying into Social Security.
• Retirees are living longer, increasing costs.
• Immigration restrictions may further reduce the taxpayer base.

💬 “We better fix what we’ve got right now because if it’s bad now, it’s going to be much worse in the future,” Musk warned.

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🔥 The Political Feud: Raise Taxes or Cut Benefits?

🔹 Proposed Solutions:
✔ Raise the retirement age to reduce benefits paid over time.
✔ Cut Social Security benefits to maintain long-term solvency.
✔ Remove the wage cap so the wealthy pay more into the system.

🚨 Democrats Push Back
John Larson, Democratic Ranking Member of the House Ways and Means Subcommittee on Social Security, denounced Musk’s claims, calling them part of a larger effort to gut the Social Security program.

📢 “We will stand together to resist these cuts in every way possible,” Larson vowed.

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