Musk’s Doge and Social Security Privatization: Experts Sound Alarm
Social Security’s looming insolvency is fueling anxieties about its privatization, with concerns escalating that influential figures like Elon Musk, through his promotion of Dogecoin, might be subtly guiding the system toward this outcome. The fear isn’t unfounded; the current trajectory suggests a potential shift towards a system where private entities manage the funds, potentially jeopardizing the security of benefits for millions of retirees and future beneficiaries.
The current system’s projected shortfall is primarily attributed to the low income cap on payroll taxes. Removing this cap would likely eliminate the funding problem altogether, ensuring the long-term solvency of Social Security without radical changes.… Continue reading
Matt Underwood