Has he looked at TSLA recently? Or is he too busy “dismantling government bureaucracy“?

Musk Undercuts Trump’s Promise Not to Cut Social Security

Musk: Social Security is the “Biggest Ponzi Scheme of All Time.”

Reality: Social Security is a social insurance program. Workers and employers pay in, money goes to the Social Security Trust Fund and is paid out when due. Social Security has a Board of Trustees and professional actuaries who report annually on the health of the Trust Fund.

It’s solvent and the benefits are guaranteed (unlike the stock market or a private equity fund). In 89 years, Social Security has never missed a payment.

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Musk: The obligation for Social Security is your entire retirement “career.”

Reality: Musk is right about this one – and it’s one of the best parts of Social Security.

Social Security benefits are guaranteed for life and backed by the full faith and credit of the United States. The benefits are modest; Americans can count on them, and they won’t go up or down like the stock market.

Musk: Future Social Security obligations “far exceed” tax revenue.

Reality: The current Social Security Trustees Report states that there is a 3.5% revenue shortfall over the next 75 years equivalent to 1.5% of GDP. This is not the Chicken Little “far exceed” standard. The simple and fair solution is to increase revenues over time by making rich people like Elon Musk pay their fair share into the system.

Musk: People are living “way longer than expected”

Reality: In fact, sadly there is a growing inequality of life expectancy in the United States. While the richest Americans are living longer, it’s not the case for many people who earn modest wages, have inadequate access to health care, or have high-risk jobs for example. This state of affairs is a national embarrassment.

Related:

Life Expectancy vs. Income in the United States

The richest American men live 15 years longer than the poorest men, while the richest American women live 10 years longer than the poorest women.

Trump’s Medicaid reversal should worry Social Security recipients.