Fact-check: Does Elon Musk pay the same amount into Social Security as someone making $185K?
WRAL News
Last updated: July 22, 2026
Senator Bernie Sanders has claimed that Elon Musk, despite his immense wealth, pays the same amount into Social Security as an individual earning $185,000 annually. Sanders described this situation as absurd and advocated for reform.
- The core of the claim revolves around the Social Security payroll tax cap. This tax is applied to earned income up to a certain limit each year. For 2023, this limit was $160,200.
- Individuals earning above this cap, regardless of how much more they earn, will pay Social Security taxes only on the first $160,200 of their income. Elon Musk, like other high-income earners, has income far exceeding this cap.
- Therefore, the amount Musk pays into Social Security is capped at the maximum contribution allowed for that year, which is the same amount paid by anyone earning $160,200 or more in 2023.
- Senator Sanders' statement is factually accurate regarding the mechanics of the Social Security tax system and its application to very high earners like Elon Musk. The "absurdity" he points to is a matter of political opinion and a critique of the existing tax structure.
