Dear John,
On January 1 at 12:15 a.m., just 15 minutes into the new year, Elon Musk stopped paying into Social Security.
Because of the Social Security tax cap, all of Musk’s earnings over $176,100 are completely exempt from Social Security taxes. So while 94% of Americans pay taxes all year on every dime they may, billionaires like Elon Musk pay almost nothing.
And now Elon Musk says he wants to gut Social Security in order to fund even more tax breaks, including for himself, through his so-called Department of Government Efficiency (DOGE).
My message to Elon Musk: When hell freezes over.
Inequality Media is going all out to stop Musk’s attacks on Social Security, but we need your help to power our efforts to alert the public and mobilize grassroots pressure on Congress to reject Musk’s cuts.
Will you make a monthly donation to Inequality Media to help educate the public, get out the truth, and stop Elon Musk’s plan to destroy Social Security and Medicare?
Republicans have been dying to get rid of Social Security for decades, and despite Trump’s oft-repeated promises to protect Social Security, his actual policies would do the opposite, accelerating the date when the program will run out of funding to pay full benefits.
And Elon Musk has been even more clear about his intentions to attack Social Security. As co-chair of DOGE, Musk has said he plans to cut $2 trillion, or about 30%, of the federal budget, which would require massive cuts to Social Security. Musk also retweeted a series of posts by Senator Mike Lee that attacked Social Security as a “nightmare.”
The real solution is obvious: Scrap the Social Security tax cap and make the rich pay their fair share in Social Security taxes.
One plan introduced by Bernie Sanders would eliminate the cap on earnings over $250,000 and also subject investment income to Social Security taxes. It’s estimated that this would extend the solvency of Social Security for the next 75 years without raising taxes on 93 percent of American households.
These are the facts that the American people need to know about Social Security, and Inequality Media is using our huge platform across social media to get the truth out and mobilize grassroots support.
Social Security is one of the most successful and popular government programs of all time. It won’t be easy, but this is a fight we can win — if we fight together.
Will you make a monthly donation to Inequality Media to help educate the public, get out the truth, and stop Elon Musk’s plan to destroy Social Security and Medicare?
Thank you,
Robert Reich
Inequality Media