Vermont Sen. Bernie Sanders fired back at billionaire Trump ally Elon Musk after the latter expressed some considerably controversial opinions about Social Security, regarding the whole system as fraudulent.
"What Musk, the wealthiest guy in the world, just said is totally outrageous," the 83-year-old Independent stated while being interviewed by NBC's Kristen Weller during a "Meet The Press" segment on Sunday. "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."
Musk shared his take on Social Security while being interviewed by host Joe Rogan on Friday episode his podcast, "The Joe Rogan Experience." He described the system as a "Ponzi scheme," continuing to complain about how it would create a financial burden for the US government due to the fact that "people are living way longer than expected [while] there are fewer babies being born."
Sanders criticized this line of reasoning by making the argument that Social Security would be affordable if the federal government were willing to tap into all available resources.
"Right now, Musk, worth $400 billion, contributes the same amount into the Social Security trust fund as somebody making $170 million," Sanders said. The senator proposed that increased taxation applied to the nation's wealthiest would allow the government to "extend the solvency of Social Security for 75 years."
Musk says there’s massive waste & fraud in Social Security. Not true.
— Bernie Sanders (@BernieSanders) March 2, 2025
Musk says Social Security is a Ponzi scheme. Not true.
What is the goal of this disinformation campaign? To privatize the most successful government program in history and give it over to Wall Street.
"Musk says there's massive waste & fraud in Social Security. Not true. Musk says Social Security is a Ponzi scheme. Not true," Sanders wrote to X. "What is the goal of this disinformation campaign? To privatize the most successful government program in history and give it over to Wall Street."
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