Musk calls social security a ‘Ponzi scheme’. The real con is what Trump’s peddling
Social security is a highly efficient safety net. But the president’s crypto plans and job cuts leave Americans holding the bag
Elon Musk said on Joe Rogan’s show last week that social security is “the biggest Ponzi scheme of all time”.
Rubbish. In a Ponzi scheme, a con artist lures investors into a fake investment project, pockets the cash, and then gets new “investors” to funnel cash to the older ones – until new recruits slow down and the whole thing collapses. Suckers are left holding worthless bags.
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Social Security is sending retroactive payments. Here's what to know.
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