
Elon Musk, a South African immigrant, is now setting his sights on cutting Social Security. The world’s richest man is calling Social Security a “Ponzi scheme” and is pushing to privatize a program that has been a vital safety net for millions of elderly, poor, and disabled Americans since the 1930s.
During an appearance on “The Joe Rogan Experience” podcast, Musk criticized the U.S. government as a “pyramid scheme” and labeled Social Security as “the biggest Ponzi scheme of all time.” Many Democrats have countered his arguments by proposing to strengthen the program by removing the cap on Social Security taxes for high earners like Musk. This would ensure that those who earn more contribute proportionately more to the program, making it sustainable for the next 75 years and potentially expanding benefits.
Musk’s claims about Social Security have been met with skepticism, particularly his assertion that “tens of millions” of deceased individuals are receiving benefits. The reality, as reported by The Associated Press, is that improper payments account for less than 1% of total payouts, with most errors being overpayments to living recipients.
Despite criticism from the Congressional Budget Office and others, Musk continues to advocate for cuts to Social Security, Medicaid, and food stamps in favor of tax breaks for billionaires. His efforts align with the GOP’s agenda to downsize government programs, posing a threat to the well-being of vulnerable populations in the United States.









