1 upvotes, 1 direct replies (showing 1)
View submission: Elon Musk can’t balance the budget
I don’t get how canceling social security saves $1.6 trillion. I’m looking at https://www.ssa.gov/policy/trust-funds-summary.html[1]. It says social security brings in $1.35 trillion in taxes in 2024 and paid out $1.39 trillion. So if they cut social security isn’t the savings just $40 billion? Or do they plan to cancel all the benefits and keep the taxes?
1: https://www.ssa.gov/policy/trust-funds-summary.html
Comment by tadrinth at 27/11/2024 at 20:16 UTC
1 upvotes, 0 direct replies
I mean, to be clear, *we have no idea what Musk's plan is*. I'm not even sure we know if Musk has a plan more detailed than "the federal budget has gotta be at least 2/7ths cuttable stuff based on my gut". He might just be pulling numbers out of his ass.
But yes, for Musk to balance the budget by cutting social security benefits, he would have to keep the taxes in place while cutting benefits. This would be stupid and unpopular.