WASHINGTON, DC - MARCH 04: U.S. President Donald Trump addresses a joint session of Congress at the U.S. Capitol on March 04, 2025 in Washington, DC. Vice President JD Vance and Speaker of the House Mike Johnson (R-LA) applaud behind him.
Tuesday night, Donald Trump stood before the nation and, with the full backing of billionaires like Elon Musk, laid the groundwork for the biggest heist in American history — the rapid, systematic destruction of Social Security, disguised as “reform.”
We saw the formal announcement of it during Trump’s State of the Union address, and the DOGE announcement earlier in the week that 7,000 employees at Social Security are to be immediately laid off — with as many as half of all Social Security employees (an additional 30,000 people) — soon to be on the chopping block.
Republicans and their morbidly rich donors have hated Social Security ever since it was first created in 1935. They’ve called it everything from communism to socialism to a Ponzi scheme.
In fact, it has been the most successful anti-poverty program in the history of America, one now emulated by virtually every democracy in the world.
But the rightwing billionaires hate it for several reasons.
The first and most important reason is that it demonstrates that government can actually work for people and society: That then provides credibility for other government programs that billionaires hate even more, like regulating their pollution, breaking up their monopolies, making their social media platforms less toxic, and preventing them from ripping off average American consumers.
Thus, to get political support for gutting regulatory agencies that keep billionaires and their companies from robbing, deceiving, and poisoning us, they must first convince Americans that government is stupid, clumsy, and essentially evil.
Ronald Reagan began that process when he claimed that government was not the solution to our problems but was, in fact, the cause of our problems. It was a lie then and is a lie now, but the billionaire-owned media loved it and it’s been repeated hundreds of millions of times.
Billionaires also know that for Social Security to survive and prosper, morbidly rich people will eventually have to pay the same percentage of their income into it as bus drivers, carpenters, and people who work at McDonald’s.
Right now, people earning over $176,100 pay absolutely nothing into Social Security once that amount has been covered. To make Social Security solvent for the next 75 years, and even give a small raise to everybody on it, the simple fix is for the rich to just start paying Social Security income on all of their income, rather than only the first $176,100.
The entire solvency and health of Social Security could be cured permanently, in other words, if we simply did away with the “billionaire loophole” in the Social Security tax.
But the idea of having to pay a tax on all their income so that middle class and low income people can retire comfortably fills America’s billionaires with dread and disgust. So much so that not one single Republican publicly supports the idea.
How dare Americans have the temerity, they argue, to demand morbidly rich people help support the existence of an American middle class or help keep orphans and severely disabled people from being thrown out on the streets!
Which is why Elon Musk and his teenage hackers are attacking the Social Security administration and its employees with such gusto.
By firing thousands of employees, their evil plan is to make interacting with Social Security such a difficult and painful process — involving months to make an appointment and hours or even days just to get someone on the telephone — that retired Americans will get angry with the government and begin to listen to Republicans and Wall Street bankers who tell us they should run the system.
(This won’t be limited to Social Security, by the way; as you’re reading these words Trump and Musk are planning to slash 80,000 employees from the Veterans Administration, with a scheme to dump those who served in our military into our private, for-profit hospital and health insurance systems.)
The next step will be to roll out the Social Security version of Medicare Advantage, the privatized version of Medicare that George W. Bush created in 2003. That scam makes hundreds of billions of dollars in profits for giant insurance companies, who then kick some of that profit back to Republican politicians as campaign donations and luxury trips to international resorts.
Advantage programs are notorious for screwing people when they get sick, and for ripping off our government to the tune of billions every year. But every effort at reforming Medicare or stopping the Medicare Advantage providers from denying us care and stealing from our government has been successfully blocked by bought-off Republicans in Congress.
Once Republicans have damaged the staffing of the Social Security Administration so badly that people are screaming about the difficult time they’re having signing up, solving problems or errors, or even getting their checks, rightwing media will begin to promote — with help from GOP politicians and the billionaire Murdoch family’s Fox “News” — people opting out of Social Security and going with a private option that resembles private 401(k)s.
Rumor has it they’ll call it “Social Security Advantage” and, like Medicare Advantage, which is administered for massive profits by the insurance giants, it will be run by giant, trillion-dollar banks out of New York.
While big insurance companies have probably made something close to a trillion dollars in profits out of our tax dollars from Medicare Advantage since George W. Bush rolled out the program, Social Security Advantage could make that profit level look like chump change for the big banks.
And, as an added bonus, billionaires and rightwing media will get to point out how hard it is to deal with the now-crippled Social Security administration and argue that it’s time to relieve them, too, of the regulatory burdens of “big government”: Gut or even kill off the regulatory agencies and make their yachts and private jets even more tax deductible than they already are.
This is why Donald Trump repeated Elon Musk’s lies about 200 year-old people getting Social Security checks and the system being riddled with fraud and waste. In fact, Social Security is one of the most secure and fraud-free programs in American history.
But Tuesday night was just the opening salvo. It took Bush almost 3 years to convince Congress to start the process of privatizing and ultimately destroying Medicare.
Having learned from that process, odds are Trump will try to privatize Social Security within the year.
And he may well get away with it, unless we can wake up enough people to this coming scam and put enough political pressure — particularly on Republicans — to prevent it from happening.
Tag, you’re it.
The song that was inspired by this article is here.
My reading this article as an audio podcast is here.
My new book, The Hidden History of the American Dream, is now available.
You can follow me on Blue Sky here.
The website for my radio/TV program is here.