Musk Claims Social Security is a Ponzi Scheme!

[FriscoKid]

So, the South African Super Dork went on Joe Rogan’s podcast a few days ago and, in his semi-coherent grasp of the English language, declared that Social Security is a Ponzi scheme. Yep, the same system that millions of Americans, including many of you lot who worship the Bone Spur Bandit, rely on for retirement, disability, and survivor benefits.

 

Now, we all know Mr. Doge Bag loves saying things for attention, but this one should make people stop and think. Because if he truly believes Social Security is a scam, what happens when his billionaire-friendly buddies in politics, particularly Felon 47, take action based on that belief? What happens if they decide gutting Social Security is their next big “cost-cutting” move?

 

And here’s the kicker: A huge chunk of Dementia Don’s voter base depends on those Social Security checks to survive. So, for the MAGA crowd who thought voting for a guy who worships billionaires would somehow benefit them, how’s that working out?
 

If the Mango Mussolini and his minions push to slash Social Security, will you finally see the problem? Or will you just keep blaming immigrants, drag queens, Antifa, Hunter Biden’s laptop, Mexican drug cartels, Chinese imports, egg prices, gas prices, and the deep state while your benefits vanish into thin air?

 

Maybe it’s time to figure out how to uncast that vote of yours for the Tangerine Tyrant.

[Harrisfan]

Musk is 100% right.

[FriscoKid]

1 minute ago, Harrisfan said:

Musk is 100% right.

Halfcocked Harris. 

[Celsius]

6 minutes ago, Harrisfan said:

Musk is 100% right.

 

He is right, I agree.

 

By definition all his companies are Ponzi too

[connda]

Unfortunately he is 100% correct. But it was turned into a Ponzi Scheme by the US Government and nobody else.  Those SSA funds should have been invested and drawing interest instead of being plowed into the General Fund to be spent on all the waste, fraud, and abuse we are now seeing was well as trillions of USD for endless wars and foreign aid.  But the US Government is responsible.  Not the individual taxpayer who paid into the SSA system all their lives. 

[FriscoKid]

The Twitter Tosser claims Social Security is a Ponzi scheme because the money paid in by current workers is immediately used to fund benefits for retirees.

 

But a Ponzi scheme is something very specific. In a Ponzi scheme, there is no real investment. Investor #1 puts in a million dollars, thinking it’s going into a legitimate fund. But instead, the people running the scheme simply take the money. Then Investor #2 comes in with $2 million, and when Investor #1 wants to cash out, their supposed “earnings” come from Investor #2’s money. There’s no actual underlying investment, and eventually, the whole thing collapses when there aren’t enough new investors to keep paying out returns.

 

That’s a Ponzi scheme. It’s a very defined type of scam.

 

Social Security, on the other hand, is a pay-as-you-go system. That’s what Elaine is trying to get at, but he’s misrepresenting it. Current workers pay into it, and that money funds benefits for current retirees. It’s not designed to generate profits, and it’s backed by the full faith and credit of the U.S. government, which has the authority to tax and borrow.

 

It’s no secret that Social Security operates this way. The system is meant to be self-sustaining over time. However, the challenge is that as more people retire, the ratio of workers to retirees decreases. If nothing is done, the Social Security Trust Fund would be depleted by the mid-2030s.

 

But even in that scenario, Social Security wouldn’t collapse. It would still be able to pay out about 75 to 80 percent of scheduled benefits. That’s not a Ponzi scheme falling apart, that’s a projected shortfall that can be addressed with policy adjustments.

 

There are multiple ways to fix it such as raising the payroll tax cap slightly is one example. A few small tweaks, and the issue is resolved.

 

So no, Social Security is not a Ponzi scheme. It’s simply a structured system that needs adjustments due to demographic shifts, not the financial house of cards Muskrat is making it out to be.

[candide]

26 minutes ago, connda said:

Unfortunately he is 100% correct. But it was turned into a Ponzi Scheme by the US Government and nobody else.  Those SSA funds should have been invested and drawing interest instead of being plowed into the General Fund to be spent on all the waste, fraud, and abuse we are now seeing was well as trillions of USD for endless wars and foreign aid.  But the US Government is responsible.  Not the individual taxpayer who paid into the SSA system all their lives. 

More propaganda lies from you...

[rough diamond]

1 hour ago, Harrisfan said:

Musk is 100% right.

 Where are the facts (not the OP) to back up that claim?

[SiSePuede419]

Does Elon Musk Actually Know What a ‘Ponzi Scheme’ Is?

 

Yes, he knows when he's not hallucinating in a K-Hole.

But he doesn't care.

He's lying about EVERYTHING.

 

DOGE Tries to Do Math Again and Makes $86B Mistake

 

The Musk Rats can't even do basic algebra without screwing it up.

 

Department of Government Errors 😭