By Jerry PDX
friday, february 7, 2025 at 9:11:00 p.m. est
Is Elon Musk looking to steal our social security numbers?!
A lot of hysterical headlines about Musk having nefarious intentions with your social security numbers. What do they think he’s going to do? Post the numbers on the dark web? Sell them to the chinese?
Nobody is specific about anything, just lurid headlines and insinuation-filled articles. I’m more concerned that he prioritizes the people who have been paying into the system and are entitled to the benefits they paid for. He has said little about social security in the past, unlike Trump who has always said it should stay exactly the same but has added that he would like to eliminate taxes on social security.
Nearing eligibility, I’m all for that, and hope his promise was genuine and he wasn’t just trying to buy the retirement age demographic vote. Will Trump’s promise hold up if Musk tells him that social security is insolvent or the government can’t afford to lose the tax money? I don’t know; guess we’ll see how this plays out.
I couldn't find much about Musk’s thoughts on social security, but he did repost this article by utah senator Mike Lee:
https://www.newsweek.com/what-elon-musk-has-said-about-social-security-reform-1995978
I’ve heard that idea of investing social security into the markets before, it sounds like a money grab more than anything sensible. Sure, it will create a massive bubble, and the inside traders will make a killing but what about the times the market tanks? Do we get paid less? And what happens when the debt becomes mathematically impossible to sustain and markets collapse, taking our social security money with it? No, Elon, leave it be.
N.S.: I hadn’t given it much thought before reading your item, Jerry, but I have now concluded that it’s the usual communist/racial socialist game of ginning up hysteria against anything the President does, in an effort to hamstring him.
Unless one has misgivings about something he wants to do, without reading it from his enemies (e.g., turning the gaza strip into the ultimate money pit), then it’s best to ignore them.
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2 comments:
Needed an outsider to look into all of it. That's the point.
--GRA
The best fix to the taxation problem with Social Security is to adjust the parameters for inflation. If 1/2 of your income + your soc-sec exceeds $25,000 single, $32,000 married, you're ensnared. A pension, a part-time job, some successful investments, those will quickly push you over the line.
If they just up those thresholds like they do with the standard deduction, that takes care of most of the problem and probably with less legislative turbulence. At least until the whole rotten system collapses on its foundation of national debt IOUs, because that's all there is in the so-called "lockbox" that Algore touted.
Ditto the state and local tax deduction that got capped at $10,000 that the high-cost blue states are apoplectic about along with their RINO reps. The right compromise is to adjust it for inflation.
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