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Elon Musk Could Owe the Same Social Security Tax as Someone Earning $184,500
Sanders cited Musk’s stock-heavy wealth to argue the billionaire may owe no more than the maximum Social Security payroll tax, which is $11,439 in 2026.
- Sen. Bernie Sanders claimed in a June 12 post that Elon Musk "pays the same amount into Social Security as someone making $184,500," calling the situation absurd and in need of reform.
- Social Security taxes apply only on wages up to $184,500 in 2026, meaning high earners like Musk face the same maximum liability as average workers earning that threshold amount.
- While Musk's wealth exceeds $1 trillion, his Social Security liability depends on wage income rather than stock gains. Labor economist Teresa Ghilarducci noted that in some years, "his wage income can be near zero," making his liability "possibly far less."
- Sanders spokesperson Jeremy Slevin said the post promoted Sanders' Social Security Expansion Act, which would eliminate the tax cap for earnings over $250,000 and apply payroll taxes to capital gains.
- Musk became the world's first trillionaire earlier this month when SpaceX went public, valued at more than $2 trillion, renewing calls from politicians to address wealth inequality and raise taxes on the richest Americans.
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Coverage Details
Total News Sources19
Leaning Left1Leaning Right0Center18Last UpdatedBias Distribution95% Center
Bias Distribution
- 95% of the sources are Center
95% Center
C 95%
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