Over Half of Americans Would Pay More in Taxes To Sustain Social Security as Musk Considers Massive Cuts

Americans worried about the future of Social Security under the stewardship of Elon Musk haven’t seen those worries ease much lately. The billionaire Tesla CEO recently referred to Social Security as a “Ponzi scheme” and suggested it was rife with waste and fraud and might be a good candidate for a massive overhaul, NBC News reported.

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These comments were made by Musk in his role as head of the Department of Government Efficiency (DOGE), an organization put together by President Donald Trump to slash spending by the federal government. In late February, the Social Security Administration (SSA) announced plans to cut about 7,000 jobs and close various field offices.

More recently, the SSA said it will eliminate phone services for millions of recipients and applicants and require them to visit offices instead, the AP reported — even as those offices face the cutting knife. Critics say these moves could lead to longer wait times and missed payments.

“Elon Musk’s DOGE and the acting Social Security commissioner, whose appointment it orchestrated, are forcing … harmful changes in the name of nonexistent fraud,” wrote Nancy Altman, president of Social Security Works, in a March 19 press release. “The change will drive millions of additional Americans, many who have serious mobility issues, into already overcrowded offices for no reason.”

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Meanwhile, the general public has started weighing scenarios it might not have considered as recently as a few months ago, when Trump campaigned on the promise that he would “not touch” Social Security if he won a second term to the White House.

A recent survey of 1,006 Americans conducted by public interest law firm Atticus found that over half of respondents (55%) would pay 1% more in taxes to sustain Social Security. That compares to 37% who oppose tax increases.

The survey, conducted in February, reflected general wariness about the future of Social Security. Concerns over its long-term solvency “persist,” according to Atticus, while many Americans remain “skeptical about government action to protect their benefits.”

In fact, more than one-third (37%) of respondents “don’t believe Social Security will be solvent” for future generations. Skepticism is highest among Gen X (42%), Gen Z (40%) and millennials (39%).