Expert turns tables on Dem critics after Musk accuses Social Security of being ‘Ponzi scheme’

Democrats retracted after Elon Musk claimed that social security works like the “Ponzi Plan”, as it continues to argument about the discounts in the federal bureaucracy, but one of the experts tells Fox News Digit that Musk is on the right path with his criticism of the agency.

James Agréste, head of the Institute of Non -profit research, told Fox News Digital in response to a retreat from the demand of Elon Musk, which included a “FALSE” rating of Politifact.

“The Ponzi scheme works by taking funds from new investors to pay the current investors. This is the definition provided by the Supreme Education Council, and contrary to the common belief, and this is exactly the way social security works.”

Agresti explained to Fox News Digital that social security, which is believed to be a target for Musk’s efforts in Dog, “does not take our money and provide us with us, as many people believe, then give it to us when we are older” as many Americans believe.

The expert reveals huge levels of waste that can be floundered by entitlements, and pets projects: “a lot of fat”

“What you are doing is that it transports the money when we are young, work and pay social security taxes,” said Agrisiti. “This money, the largest part of that, immediately comes out of the door to people currently receiving advantages. There is now a trusted box, but within 90 years of operation, this insurance box currently has enough money to finance two years of program operations.”

Agresti explained that the insurance box, which can only continue for a period of two years, is the result of “looting the box”, but was placed in its place “to put a surplus” from the money that social security collects in taxes that do not pay it immediately and pays interest on it.

“The benefit that was paid on this was higher than the inflation rate,” said Agrristty. “Therefore, the problem is not that the insurance box has been looted. The problem is that social security works like the Bonzi scheme.”

Dog’s plans to unload government buildings supported by the former GSA official

Social Security Card (Cyberguy “Knutsson)

One of the best social security criticisms of Republicans, including President Trump, was a source of concern because the individuals who died or listed at the age of more than 100 years on the lists and received benefits.

I told Agresti Fox News Digital that there are legitimate reasons for concern about this issue.

“What is not clear to me at this moment is whether the people in the books are already receiving checks,” said Agristei.

“Once again during the Obama administration, there was an incentive, and the Obama administration sent stimulus checks through the numbers of social security to 80,000 people who died, and about 70,000 of them, the Social Security Administration knew that they had died. So I do not know if they had dealt with this situation since then, but it is clear that the system does not remain at the pace of the current data, and this provides an opportunity for fraud.”

Elon Musk listens while President Donald Trump meets with Indian Prime Minister Narendra Modi, at the White House Oval Office, on Thursday, February 13th. (AP/Alex Brandon)

Democrats have also made it clear that Musk is trying to strip the benefits of the elderly. Tell Agresti Fox News Digital that this is not what is happening.

“There has been a lot of wrong information about this time recently.” “As you know, when Doug came and suggested that the Social Security Administration be a reduction, I think about 10,000 workers, the Democrats erupted that this will weaken social security. But the fact of the matter is that social security pays these workers who are for the general administrative expenditures from the administrative fund for social security. By eliminating the money they pay, you actually enhance the program financially.”

Agresti Fox News Digital told the current administrative general expenditures for social security are $ 6.7 billion annually, enough to pay more than 300,000 retired in average aging age.

Click here to get the Fox News app

Questions from critics have appeared in recent years about whether social security, in its current form, is able to remain the remaining solvents to pay the advantages of Americans who have pushed over the past few decades.

Tell Agresti Fox News Digital that the program “will become insolvent” once in 2035 if no changes are made.

“To give you a feeling of social security separation from a completely funded pensions plan, if to keep the program solvent and put it on the same financial foot of the company as a real pension, it requires an additional $ 272,000 of additional salary taxes from every person who pays taxes like salary statements at the present time,” Agresti told Fox News Digital.

“I will give you another way to prove more numbers this point. If you retire in 1980, it took about three years to receive social security benefits to restore your salary taxes in addition to interest. If you retire in 2000, it took 17 years.