Elon Musk call in Social Security a “ Ponzi Scheme ” in a discussion with podcaster Joe Rogan that was free online Friday . And it ’s just the modish rhetorical ravishment by a fellow member of the Trump authorities on America’ssocial safety netas Musk continue to lay off chiliad of federal worker and illegally stop payments at several government agencies .
“ Social Security is the biggest Ponzi Scheme of all time , ” Musk toldRogan , who ask the billionaire to excuse .
“ Right , so people compensate in through Social Security and the money goes out of Social Security immediately but the obligation for Social Security is your entire retirement calling , ” Musk said , as though he was explaining something shocking .
Elon Musk holds up an Air Force One stuffed toy as he walks from the presidential helicopter Marine One on the South Lawn of the White House on 30 March 2025 in Washington, DC.Photo by Win McNamee/Getty Images
“ So , you ’re paying .. the variety … ” Musk say , stammering . “ You ’re paying . Like , like if you look at the future debt instrument of Social Security it far exceeds the tax revenue . Far . ”
Yes , people who are working now devote for the Social Security that retired person are now enjoy . That ’s not a Ponzi Scheme , it ’s how most societal programs work . The people of the 20th C created a organization to ensure that older multitude in the wealthiest country the earthly concern has ever have intercourse would n’t crave to death after they stopped working .
Then Musk pivoted into national debt , asking Rogan , “ Have you ever look at the debt clock , ” clearly trying to change the subject into something that sounds more chilling than “ Social Security is funded by taxpayer like other social programs . ”
Musk also take that there were 20 million people marked as “ active ” in the Social Security database who were in reality dead , but did n’t confront any evidence that there was widespread fraud fall out . People do attempt to hide the death of loved ones so that they can go on to receive Social Security checks , but those those kinds of investigation are rare and there ’s nothing to suggest millions of mass are receiving fraudulent payment .
Rogan say it was an “ interesting narrative ” that Musk should n’t be allow for entree to the most highly sensitive data at the Social Security office . And Musk insisted that every member of DOGE who had been give access had gone through the proper channel and been vetted properly . Again , like everything that Musk say , there was no grounds lay out to essay the mass at DOGE had been vet properly . There has been , however , many reports that stave at DOGE have not receive the proper clearances to view the data they ’ve view . In fact , one tale emerged of the DOGE team trying toaccess a SCIFat the U.S. Treasury .
Musk has made it clear that he does n’t like Social Security . They ’re dismantlingwhat they cannow , but it ’s patently going to be a heavy lift to massively disrupt Social Security without pee off millions of Americans . Will they do it ? Only time will state . But given the step they ’ve prepare for hack things to smithereens , do n’t calculate against it happening sooner rather than later .
DOGEElon MuskSocial Security
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