Government Leech Elon Musk Calls Social Security A “Ponzi Scheme”

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During an appearance on The Joe Rogan Experience on Friday, the world’s richest man and government parasite Elon Musk declared that Social Security was a “ponzi scheme.” This phrase has been used by Republicans for years to describe virtually any financial plan that they don’t like, but they have been particularly forceful with slapping this label onto Social Security. Musk and his fellow Republicans want people to suffer and work forever, that’s the bottom line. Ring of Fire’s Farron Cousins discusses this.
 
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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

This past Friday, the world's richest man, and as a OC called him over the weekend, government leach, Elon Musk went on the Joe Rogan experience to tell the world that social security is nothing but a Ponzi scheme. And he also added, by the way, that the US government is the biggest pyramid scheme in history, but social security is of course a Ponzi scheme. Now, to his credit, Elon Musk, like everything else in his life, didn't actually come up with that saying Republicans have been saying it for years, basically ever since the whole Bernie Madoff thing. And then the word Ponzi scheme made its way into, uh, the political lexicon. And Republicans use it to describe anything that they don't like, right? It's a Ponzi scheme. It's Ponzi scheme. Ponzi scheme. But they've been particularly aggressive labeling social security as a Ponzi scheme scheme. So here is what Musk said after saying it is the biggest Ponzi scheme of all time. Joe Grogan was like, well explain that. And Musk said, well, people pay into Social Security and the money goes out of Social Security immediately. But the obligation for social security is your entire retirement career. If you look at the future obligations of social security, it far out out exceeds the tax revenue. People are living way longer than expected, and therefore the government's obligation to pay the debt will be much worse in the future.

So there's a couple solutions to that though, Elon, and for the record, no, it's not a Ponzi scheme. As Bernie Sanders pointed out, it is a vital government program that keeps 18 million people every single year from hitting poverty. But okay, people are living longer, so do you want them to die? Right? I guess that's solution number one. Like, don't live as long, right? That's just, that's what y'all gotta do. You just gotta start dying like that. That seems like not a good solution. Now, there's another solution that people like Elon Musk will not like because it requires him to pay more of his money, and that is remove the income cap on social security taxes, right? I mean, right now we actually have a cap. Once you make over a certain amount of money, which is not that much money, by the way, folks, you no longer have to pay Social Security taxes on that. If, if we got rid of that, the solvency issue of social security, which again, we say we got, you know, 10 years before we may hit a problem. But if we just remove that income cap problem pretty much solved, at least for the next couple decades, we could raise Social Security taxes beyond that in the future. You know, 10, 20 years down the road. We don't have to do it immediately. And I know

Nobody likes to talk about raising taxes, but guess what? It might be a necessary evil. And I'll tell you what, I'll take it one step further. If we end up having to raise Social Security taxes, do you know what we could do to make up for that? We could slightly lower income taxes so that for the average person out there, their taxes don't actually go up. They're paying less on one side and more on the other to continue to even out to what they'd be paying today. How did I do that? How did I just solve the entire social security problem in 45 seconds? Because I did. It's not that hard, folks. It genuinely is not that hard. The only thing that makes it difficult is people like Elon Musk spreading lies about social security and spending hundreds of millions of dollars to pay off politicians to not raise their taxes. That's the problem, right? That's the hard part. We know the solution. It is simple, but getting to that simple solution is insanely difficult because we will always, thanks to our corrupt Supreme Court