'He Doesn't Even Understand It': Linda Sanchez Slams Musk For Social Security 'Ponzi Scheme' Comment

2 days ago

During a House Ways and Means Committee hearing last week, Rep. Linda Sanchez (D-CA) spoke about Elon Musk's attempts to cut Social Security benefits.

Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:

https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript

Stay Connected
Forbes on Facebook: http://fb.com/forbes
Forbes Video on Twitter: http://www.twitter.com/forbes
Forbes Video on Instagram: http://instagram.com/forbes
More From Forbes: http://forbes.com

Transcript

00:00to strike the last word, five minutes.

00:05Thank you, Mr. Chairman.

00:06This resolution of inquiry asks about staff reductions,

00:10closures, and consolidations of Social Security offices.

00:14The implementation of the so-called Department of Government Efficiency

00:18has caused widespread confusion and chaos.

00:22Illegal mass firings of federal workers and cancellation of grants

00:26have left my constituents looking for answers.

00:29I expect my colleagues have experienced similar questions from their constituents

00:33if they are bothering to hear them out.

00:36I would expect all of my colleagues to vote yes on this resolution of inquiry,

00:40if only to gather much-needed information about Elon Musk's actions

00:44in the Social Security Administration.

00:47DOJA's website lists Social Security field office closures

00:51in Carlsbad, California, Abilene, Texas, Greenville, North Carolina,

00:56and Logan, West Virginia.

00:58If it was me representing these cities, I would want more details

01:01about why my constituents were losing these valuable services.

01:06We all know that Social Security wait times are too long.

01:09Office closures will only increase them.

01:13I've said it before, and I'll say it again.

01:15The richest man in the world is going after Social Security.

01:20And he doesn't even understand it, doesn't know how it works.

01:24Elon Musk calls Social Security a Ponzi scheme.

01:27And because of the cap, Elon Musk paid all of his Social Security taxes

01:32on January 1st of this year at 12.15 a.m.

01:36He doesn't have to pay a dime more into Social Security after that.

01:41My Republican colleagues are smart, compassionate people.

01:45I have a hard time believing that they are comfortable slashing the benefits

01:49that their constituents rely on.

01:52And I have a harder time believing that they don't want to understand

01:55what the richest man in the world is doing with their constituents' money and data.

02:02This resolution simply asks the question.

02:05I look forward to all my colleagues voting yes

02:07to find out more about what is happening in their districts.

02:12And I want to just say this.

02:13At the start of this markup, I had one of my staff

02:16call the Social Security customer service line.

02:19We've been discussing this resolution for quite some time now,

02:23and she's still on hold.

02:25Closing Social Security field offices and reducing staff

02:29is only going to increase those hold times for our most vulnerable constituents.

02:40And Republicans don't seem to care.

02:42But I suspect that your constituents will.

02:45And with that, I yield back.

02:49The member yields back.

02:50I now recognize Ms. Chu to strike the last word for five minutes.

02:55I strongly support this resolution of inquiry,

02:59and it is because my constituents are safe.

'He Doesn't Even Understand It': Linda Sanchez Slams Musk For Social Security 'Ponzi Scheme' Comment

Category

Transcript

Recommended