Fact-check analysisVerified as of August 2, 2025Curated by FactVerify
Mostly True

​​If billionaires like Elon Musk and Jeff Bezos paid their fair share in taxes, we could expand Social Security benefits and ensure the program's future for 75 years.

If billionaires like Elon Musk and Jeff Bezos paid higher taxes, it could provide additional revenue that might be used to expand Social Security benefits and improve the program's long-term solvency.

The Top 10 Richest People In The World (August 2025)

The Top 10 Richest People In The World (August 2025)

Source: forbes.com

At a glance

Key Evidence

Verified August 2, 2025
The reporting

What the Evidence Shows

The claim that increased tax contributions from billionaires such as Elon Musk and Jeff Bezos could help expand Social Security benefits and secure the program's future aligns with economic analyses suggesting that raising taxes on the ultra-wealthy would increase federal revenues. These additional funds could be allocated to Social Security, potentially extending its solvency beyond current projections.

However, the exact impact depends on the scale of tax increases, legislative decisions, and broader economic factors. While proposals like Senator Sheldon Whitehouse's Medicare and Social Security Fair Share Act advocate for higher contributions from top earners to protect these programs, no direct legislation has yet guaranteed a 75-year extension solely from taxing billionaires more fairly. Thus, the statement is largely accurate in principle but simplifies complex fiscal dynamics and policy implementation challenges.

Primary trail

Verified Sources4

Trump Infrastructure Bill Revamp To Net Jeff Bezos, Elon Musk Billions In New...

techdirt.com
Open source

The Top 10 Richest People In The World (August 2025)

forbes.com
Open source

What Would It Mean If Trump Privatized Social Security?

wtop.com
Open source
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