Wednesday, March 05, 2025

Musk Calls Social Security a 'Ponzi Scheme'

Elon Musk has called Social Security a "Ponzi Scheme", unwittingly admitting he doesn't know the definition of "Ponzi Scheme"

Posted by Danforth at 11:32 AM | 27 COMMENTS | permalink

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Elon Musk is coming after Social Security next, calling it "the biggest Ponzi scheme of all time." This is total nonsense -- it underlines his rejection of the idea that we deserve the benefits we've paid into for our entire lives! SIGN HERE to demand Congress stop Musk and protect Social Security!

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-- Jon Cooper (@joncooper-us.bsky.social) March 5, 2025 at 8:30 AM

Comments

A ponzi scheme is always opaque, never transparent, and never with a viable path to sustainability.

Meanwhile...Social Security is an open book, totally transparent, and has a clear path to viability: one more point on both the employer and employee for payroll taxes.

#1 | Posted by Danforth at 2025-03-03 12:05 AM

He probably knows what it means.

He just knows idiots like Lfthnds^%#heap, shrimptacodips^*% and Little Caesars don't but know it's a bad thing.

So he stops to their level to get them all angry.

#2 | Posted by jpw at 2025-03-03 08:20 PM

My apologies. Here's the title link:
finance.yahoo.com

As a bonus, anyone who needs a charity valuator....

#3 | Posted by Danforth at 2025-03-03 11:34 PM

FTW, Ponzi schemes are always opaque, and never transparent.

Meanwhile, SS is a wide open system, exposed warts and all.

Ponzi schemes always hide their equation, pretending it's a trade secret.

Meanwhile, SS's equation is out there, plain as day.

finally, Ponzi schemes have no way of correcting the equation.

Meanwhile, add 1 point to both the employer and the employee's sides for the payroll taxes, and the SS system is balanced, into actuarial perpetuity (aka 75 years).

Anyone claiming SS is a Ponzi scheme, either doesn't understand the SS system, doesn't understand Ponzi schemes, or doesn't understand math.

#4 | Posted by Danforth at 2025-03-03 11:44 PM

And Elon calling it the "worst ever" means he doesn't know history, either.

www.cnn.com

#5 | Posted by Danforth at 2025-03-03 11:45 PM

- either doesn't understand the SS system, doesn't understand Ponzi schemes, or doesn't understand math.

Next to 1NumbNut's picture in the Encyclopedia of Tiny Brains and Bad Breath.

#6 | Posted by Corky at 2025-03-03 11:47 PM

Ponzi scheme is an inaccurate term to describe SS. Pyramid scheme is closer to accurate. The one thing keeping from being a pyramid scheme is that all future monies are taken at gunpoint, so the future funding never dries up, although if one or two changes are not made within a couple of decades recipients will only receive about 75% of what is promised.

#7 | Posted by BellRinger at 2025-03-04 12:22 AM

Do you know what a pyramid scheme is?

#8 | Posted by ClownShack at 2025-03-04 12:29 AM

"monies are taken at gunpoint"

I'm left wondering if there is any other way for the government to take things.

Should the government not be taking money at gunpoint? Is that naughty?

#9 | Posted by snoofy at 2025-03-04 12:30 AM

How should the government be taking money? Bring me up to speed. How is Trump doing it?

#10 | Posted by snoofy at 2025-03-04 12:31 AM

Ponzi scheme is an inaccurate term to describe SS. Pyramid scheme is closer to accurate. The one thing keeping from being a pyramid scheme is that all future monies are taken at gunpoint, so the future funding never dries up, although if one or two changes are not made within a couple of decades recipients will only receive about 75% of what is promised.

Posted by BellRinger at 2025-03-04 12:22 AM | Reply

Dishonesty much??

#11 | Posted by LauraMohr at 2025-03-04 12:41 AM

Dishonesty much??

It's his superpower.

#12 | Posted by REDIAL at 2025-03-04 12:43 AM

Not a new concept as heard it called a Ponzi Scheme decades ago and probably most here had either heard, or echoed the same.

#13 | Posted by MSgt at 2025-03-04 09:27 AM

Pyramid scheme is closer to accurate.

This is incorrect, a Pyramid scheme requires each layer to give to the layer above it. The Mob is a Pyramid Scheme.
A Ponzi scheme returns are paid to early "investors" using money from "later investors"

#14 | Posted by oneironaut at 2025-03-04 09:36 AM

Pyramid scheme is closer to accurate.

And yet, it's still inaccurate.

#15 | Posted by jpw at 2025-03-04 10:38 AM

Not a new concept as heard it called a Ponzi Scheme decades ago and probably most here had either heard, or echoed the same.

#13 | Posted by MSgt

Nobody has claimed ignorant stupidity didn't exist before Trump.

#16 | Posted by jpw at 2025-03-04 10:38 AM

Yet a crypto national stockpile isn't a ponzi scam

#17 | Posted by truthhurts at 2025-03-04 10:50 AM

"Pyramid scheme is closer to accurate. "

No, it's not.

"Pyramid scheme" is MUCH FURTHER AWAY. WTF are you talking about???

#18 | Posted by Danforth at 2025-03-04 11:54 AM

That's why I asked him if he knew what a pyramid scheme was.

He didn't answer.

#19 | Posted by ClownShack at 2025-03-04 11:55 AM

"so the future funding never dries up ... if one or two changes are not made"

Congratulations. You just admitted it's NOT a Ponzi, nor a Pyramid.

One of the hallmarks of Ponzi schemes is, there is NEVER a correction equation.

#20 | Posted by Danforth at 2025-03-04 11:57 AM

Trump supporters are morons.

All of them know people who depend on SS and Medicare to survive.

I don't understand why Trump supporters have decided to support Trump over what's best for America and all Americans.

I assume it's because they all believe themselves to be billionaires who will benefit from the destruction of the United States of America.

#21 | Posted by ClownShack at 2025-03-04 12:01 PM

Trump supporters are morons.

#21 | Posted by ClownShack

And it's HILARIOUS to watch them suffer.

Just talked to a girl I know the other day who voted for Trump.

She has a very autistic kid and is freaking out. She barely works because she is taking care of the kids. When she DOES work, it's low pay, low skill jobs.

I asked what she expected. He told you what he was going to do.

Medicaid gone? No more free healthcare for the kid.
IEPs? They are suing to get rid of those.
No more Dept of Ed? Goodbye Special Ed classes.
Public Assistance? Not anymore. Expect some big cuts.

"What am I going to do?"

Stay at home and start an OnlyFans.

She started crying that she started one 4 months ago and found out only about 1% of people make more than $50 a month on there.

It was hard not to laugh.

#22 | Posted by Sycophant at 2025-03-04 12:17 PM

Stay at home and start an OnlyFans.

She's late to the party.

Every unemployed 20 something year old has an onlyfans or justfor.fans page.

As disposable income disappears all these people will have to find a breadline to stand in.

#23 | Posted by ClownShack at 2025-03-04 12:43 PM

Did you tell her you would promote her page here? If she massages her feet at least one person will pay, and then come back to brag about it.

#24 | Posted by mattm at 2025-03-04 01:38 PM

"Not a new concept as heard it called a Ponzi Scheme decades ago and probably most here had either heard, or echoed the same."

We've all heard it.
Only Deplorables have echoed it.
Deplorables have been echoing it for decades now.

#25 | Posted by snoofy at 2025-03-05 01:11 PM

Incredible how Social Security has been a benefit for nearly 100 years, yet during the course of one podcast and according to one person it's suddenly "the biggest Ponzi scheme of all time".

Coming from someone who has received BILLIONS from the government. Surely it's only a coincidence that Musk wants to eliminate social programs to help make him wealthier.

#26 | Posted by Derek_Wildstar at 2025-03-05 01:14 PM

"The one thing keeping from being a pyramid scheme is that all future monies are taken at gunpoint, so the future funding never dries up, although if one or two changes are not made within a couple of decades recipients will only receive about 75% of what is promised."

Are all your thoughts about everything just stupid reght wing talking points? Don't you get tired of being told what to think?

"Coming from someone who has received BILLIONS from the government. Surely it's only a coincidence that Musk wants to eliminate social programs to help make him wealthier."

The never ending need for more wealth is an addiction like any other. I've heard he has 11 kids; if he's so focused on earning more money how much time and energy does that leave for them?

#27 | Posted by danni at 2025-03-05 08:36 PM

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