Source: Garrison Center
by Thomas L Knapp
“‘Rather than letting gabillionaires like Elon Musk put practically none of their massive incomes into’ Social Security, Jim Hightower writes at CounterPunch, ‘make them pay Social Security taxes exactly like regular workers do.’ … Elon Musk DOES pay Social Security exactly like regular workers do. Regular workers pay 12.4% — half directly and half theoretically from their employers, but thereby reducing the money available for wages — in Social Security tax on every dollar of income they earn up to $176,000. Elon Musk (and other ‘gabillionaires’) also pay 12.4% in Social Security tax on every dollar of income they earn up to $176,000. … The best thing to do with Social Security, if ‘decent retirements’ is the goal — and, more importantly, if individual freedom and choice are the criteria — is eliminate it.” (10/09/25)