Elon Musk Calls Social Security a Ponzi Scheme as He Destroys the US Government | Hacker News Reader

Elon Musk Calls Social Security a Ponzi Scheme as He Destroys the US Government

gizmodo.com

20 pointsrntn9 comments

I suspect that Social Security is not long for this world and the results will be tragic. Anyone think we’ll manage to maintain it in this age of low societal cohesion?

Am I going to get back the over $400K that I, and my employers have put into social security (I am assuming that I'd get my employer's match if we didn't have Social Security at all, that's only reasonable)?

If I don't get social security benefits, and I don't get my $400K, I personally will be furious with Musk, Trump, and all their Republican enablers the rest of my life.

The #1 problem in US politics that is barely being talked about is that the social security trust fund will run out of money around 2035 and then benefits will get cut to 83% of what they are supposed to be:

https://en.wikipedia.org/wiki/Social_Security_Trust_Fund

Similar shortfalls were expected during the Reagan years and Reagan worked with Congress to fix the plan in 1983, the same should be happening now. Primarily we need an increase in the payroll tax, it doesn't have to be huge, but we need more money coming in to balance what goes out. A few politicians are talking about it

https://www.grassley.senate.gov/blog/saving-social-security-...

but you hardly ever hear about this problem in the media, the sooner we do something about it, the less drastic changes will be necessary. It bothers me because I'm expecting to retire in 2039 or so. Might be a better thing to write your congressman about than the outrage of the day.

> program in US politics that is barely being talked about

Social Security’s looming insolvency is at the heart of Freedom Caucus politics and, before that, animated the Tea Party [1]. Politicians of all stripes running around each cycle professing to protect Social Security are basically dancing around this issue, acknowledging the problem and doing as little as possible to kick the can down the road [2].

(Given the electorate’s changing demographics [3], I expect benefits to be cut by taxing benefits, extending the retirement age and/or increasing penalties for early participation, but that’s just a guess.)

[1] https://www.ontheissues.org/Celeb/Tea_Party_Social_Security....

[2] https://www.bostonglobe.com/2025/03/02/nation/trump-gop-budg...

[3] https://www.pewresearch.org/short-reads/2018/04/03/millennia...

> and, before that, animated the Tea Party [1].

You know there's often a big difference between a stated reason and the real reason, right? I was a voting adult during that period. The tea party movement was animated because Obama is African American.

I agree with the rest of your comments. They are 100% accurate.

Sure. I’m just pushing back on the notion that Social Security’s insolvency has been buried by anyone. The recent trend of rebranding personal ignorance as evidence of conspiracy is mildly annoying.

> Am I going to get back the over $400K that I, and my employers have put into social security

Would you snatch tax cuts out of the mouths of poor suffering billionaires?!

> If I don't get social security benefits, and I don't get my $400K, I personally will be furious with Musk, Trump, and all their Republican enablers the rest of my life.

Small price to pay - for them.

His suffering is a price they are willing to pay.

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