Bernie Sanders lashed out at Elon Musk for his remarks on Social Security scheme. Elon Musk, one of the richest men in the world, recently made headlines after calling Social Security a “Ponzi scheme” during an appearance on “The Joe Rogan Experience.” He argued that the system is financially unstable because people are living longer and fewer babies are being born, creating a growing burden on the U.S. government.
Musk’s remarks ignited a strong reaction, with many disagreeing with his comparison. A Ponzi scheme is an illegal operation that pays returns to older investors using money from new investors, often collapsing once new funds dry up. In contrast, Social Security is a government-run program funded by payroll taxes that workers contribute to throughout their careers, ensuring financial support in retirement.
Critics argue that Musk’s claims ignore the long-standing success of Social Security, which has provided consistent payments to retirees and disabled individuals for over 80 years. They view it as a crucial safety net rather than a financial trap.
Bernie Sanders’ Strong Response
Senator Bernie Sanders was quick to condemn Musk’s statements, calling them “totally outrageous” during an interview with NBC’s Kristen Weller on “Meet The Press.”
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“For over 80 years, Social Security has paid out every single dollar owed to every eligible American,” Sanders stated, rejecting the idea that it resembles a fraudulent scheme. He accused Musk of spreading misleading information that could erode public trust in the program.
Sanders also pointed out a fundamental issue in the way Social Security is funded. He highlighted that billionaires like Musk contribute roughly the same amount to the program as individuals earning $170,000 per year.
“Musk, worth $400 billion, contributes the same amount into the Social Security trust fund as someone making $170,000,” Sanders noted. He argued that requiring the ultra-wealthy to contribute more would strengthen the program and extend its longevity for future generations.
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Social Security as a Political Battleground
The dispute between Musk and Sanders is part of a larger debate over the future of Social Security. Sanders took to social media to further criticize Musk, posting on X (formerly Twitter): “Musk says there’s massive waste & fraud in Social Security. Not true. Musk says Social Security is a Ponzi scheme. Not true.”
Sanders warned that such claims could be part of a push to privatize Social Security, a move that would place retirement funds in the hands of Wall Street rather than keeping them under government management.
The discussion over Social Security has long been a dividing issue in U.S. politics. Some argue that changes are needed due to increasing costs, while others, like Sanders, believe that taxing the wealthiest Americans more would ensure the program remains strong for decades to come.
Millions of Americans rely on Social Security as a primary source of income in retirement. Musk’s comments have sparked heated debate, but the fundamental question remains: how should the program be funded to guarantee its stability for future generations? Sanders and others argue that the answer is clear—higher contributions from the nation’s wealthiest individuals.
