Musk calls social security a 'Ponzi scheme'. The real con is what Trump's peddling

Elon Musk said on Joe Rogan's show last week that social security is "the biggest Ponzi scheme of all time". Rubbish. In a Ponzi scheme, a con artist lures investors into a fake investment project, pockets the cash, and then gets new "investors" to funnel cash to the older ones - until new recruits slow down and the whole thing collapses. Suckers are left holding worthless bags. Social security is not a Ponzi scheme. It's an exceptionally efficient part of the American social safety net - the opposite of a Ponzi scheme. Which is why the overwhelming majority of Americans…