Progressive lawmakers and advocates hit back on Sunday after Elon Musk parroted the long-debunked right-wing claim that Social Security is a Ponzi scheme, the billionaire's latest false attack on the nation's most effective anti-poverty program.
Musk made the comments during an appearance on the "Joe Rogan Experience" podcast over the weekend, and the episode has already racked up nearly 8 million views as of this writing.
"Social Security is the biggest Ponzi scheme of all time," Musk said. "If you look at the future obligations of Social Security, it far exceeds the tax revenue."
The advocacy group Social Security Works noted in response that Social Security—which is 90% funded for the next quarter-century—"hasn't missed a payment in 89 years" and accused Musk of "defaming" the program as part of an effort to "cut benefits and otherwise destroy Social Security."
BREAKING: Elon Musk called Social Security "the biggest Ponzi scheme of all time" in an interview with Joe Rogan. pic.twitter.com/gCrDPLM15u
— More Perfect Union (@MorePerfectUS) March 1, 2025
Musk's comments came as the Trump administration, with the assistance of the billionaire Tesla CEO's lieutenants, is working to gut the already-understaffed Social Security Administration, an effort that could result in benefit delays and disruptions.
"This guy is a leech on the public," Rep. Alexandria Ocasio-Cortez (D-N.Y.) wrote on social media after a clip of Musk's remarks on Rogan's podcast circulated. "No matter how many billions he gets in tax cuts and government contracts, it will never be enough for him."
"Now he's going after the elderly, the disabled, and orphaned children so he can pocket it in tax cuts for himself," Ocasio-Cortez added. "It's disgusting."
Rep. Greg Casar (D-Texas), chair of the Congressional Progressive Caucus, wrote that "a guy who makes $8 million a day off the government thinks seniors getting $65 a day they worked their whole lives to earn is a 'Ponzi scheme.'"
"Protect Social Security," Casar wrote. "Fire Elon Musk."
Sen. Bernie Sanders (I-Vt.) also weighed in on Musk's comments during an appearance on NBC's "Meet the Press" Sunday morning, calling the billionaire's attack on Social Security "totally outrageous."
"That's a hell of a Ponzi scheme when for the last 80 years, Social Security has paid out every nickel owed to every eligible American. Quite a Ponzi scheme," said Sanders, who called on lawmakers to support his proposal to expand Social Security benefits by lifting the cap on income subject to payroll taxes.
"You lift that cap, we can extend the solvency of Social Security for 75 years," the Vermont senator said. "And you can raise benefits."
Last week, as Common Dreamsreported, Sanders attempted to pass his Social Security expansion bill through the Senate via unanimous consent, but Sen. Mike Crapo (R-Idaho) objected, blocking the legislation.
A previous version of this story improperly identified "Meet the Press" as an MSNBC show.
a_little_hazel_nuts on March 3rd, 2025 at 12:29 UTC »
Yeah it's disgusting. There are government funded social benefits set up for regular poor/middle class people. Then there is government funded corporate welfare for the corporations and wealthy. The only programs the Republicans attack are those that benefit the less privileged. Maybe it's time to cut off privatized from the government checkbook. Privatized health insurance recieves more money from the government than medicaid. There is a problem and it's not being caused by the exploited low wage workers skipping meals and one paycheck away from homelessness.
Mother_Task_2708 on March 3rd, 2025 at 12:29 UTC »
If he attacks the mothers of his children, I imagine everyone is fair game.
jarena009 on March 3rd, 2025 at 12:29 UTC »
I don't understand how Musk gets to try to take a billion dollar federal contract away from Verizon and just give it to himself, and in general try to shift FAA funding to himself, and somehow this is not a major news story and national controversy.