Senate Banking Committee Member Elizabeth Warren Does Not Understand How Social Security Works

Sen. Elizabeth Warren (D-MA) continues to display her ignorance.  In a failed effort to criticize Elon Musk, Warren reveals she apparently does not understand how Social Security works.

Warren wrote on X, “When Elon Musk, the richest man on earth, is set to pay the same amount in taxes for Social Security as your neighborhood dentist, we’ve got a problem.”

“I’m fighting to get the wealthy to pay their fair share into Social Security so we can increase benefits.”

When Elon Musk, the richest man on earth, is set to pay the same amount in taxes for Social Security as your neighborhood dentist, we’ve got a problem.

I’m fighting to get the wealthy to pay their fair share into Social Security so we can increase benefits.

— Elizabeth Warren (@ewarren) January 10, 2025

Warren, a ranking member of the Senate Baking Committee, seems unaware that Social Security earnings and payouts are both capped.

In 2025, the cap on income subject to SS taxes is $176,100.

The max payout is between $2,831 and $5,108, depending on the age you retire.

As one X user notes, if Musk was taxed without a cap, his payout without a cap would be staggering.

Social Security has a cap on both the amount you pay in and the amount you get paid out, you lying cunt.

If Musk paid what you call his “fair share,” his monthly payments 7 years from now when he’s 62 would be $500M a month. pic.twitter.com/JtMKNybYno

— Photo of John Wayne (@ThatOldCoyote) January 11, 2025

Of course, socialists would push to increase the maximum tax rate but leave the current payout cap in place.

Although Warren called out Musk by name, she failed to include liberal funders George Soros, Jeff Bezos, and Mark Zuckerberg in her critisism.

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