In their assault on Social Security, Dogecoin (DOGE) emerges as a notable adversary, while a recent study reveals Elon as a significant recipient of government benefits.

In their assault on Social Security, Dogecoin (DOGE) emerges as a notable adversary, while a recent study reveals Elon as a significant recipient of government benefits.

In a recent revelation, it's been reported that tech mogul Elon Musk's ventures have drained a staggering $38 billion from the federal government's coffers. This findings, published by The Washington Post, suggest that Musk's industrial empire wouldn't have seen the light of day without a steady stream of taxpayer funds from the same government he's currently working to dismantle.

The Post's investigation unveiled that the $38 billion stemmed from an influx of subsidies, contracts, loans, and tax credits bestowed upon Musk's companies, primarily Tesla and SpaceX. However, this figure might be on the conservative side. The Post cautions that this figure excludes secret defense and intelligence work for the government, as well as a dozen other local grants, reimbursements, and tax credits where specific amounts haven't been disclosed.

SpaceX has been entrusted with a $1.8 billion spy satellite project for the National Reconnaissance Office and Pentagon's spy satellite division, as reported by Reuters. This secretive contract is far from the only undisclosed figure that contributes to Musk's companies' financial supplement from the government.

Musk's current endeavors to cripple federal benefits, including Social Security, are especially noteworthy given his reliance on government subsidies. In fact, his company, DOGE, has been actively dismantling the Social Security Administration's infrastructure by terminating leases for SSA offices across the country. This has fueled speculation of an impending 50% reduction in the agency's workforce, which would undoubtedly impact its operational capacity, especially as the SSA was already grappling with staffing shortages.

Since assuming the acting commissioner role, Leland Dudek, a Trump appointee under scrutiny for sharing unauthorized info with Musk's DOGE team, has been furthering these changes. For instance, Dudek ordered a report that recommended reducing the SSA workforce by 50%, which would likely make the agency dysfunctional and inefficient.

Notably, during his tenure, Dudek and Musk's DOGE have been spreading misinformation about Social Security, painting it as a dysfunctional and fraudulent program. Musk himself claimed that the government was paying out retirement benefits to tens of millions of deceased individuals, a claim that was debunked by none other than SSA Commissioner Dudek himself.

Interestingly, the recent House budgetary blueprint proposes eliminating taxes on Social Security payments. Analysts estimate that this move would balloon the national debt by 7% over the next several decades, primarily benefitting wealthy seniors at the expense of younger generations.

Despite mounting criticism from his constituents, some Republican lawmakers remain supportive of Musk and his ventures, claiming that the people voted for change. This polarizing stance between the government and its constituents continues to shape the debate around Musk's influence and the role of government assistance in his companies' success.

Intriguingly, Musk's space company, SpaceX, has been recently awarded significant government contracts, with a notable jump in defense contracts during the Biden administration. In 2024 alone, SpaceX's defense contracts doubled to $1.8 billion, according to recent reports. SpaceX has also benefited from local subsidies and tax credits across various states. While the exact figures are not entirely transparent, it's clear that SpaceX's reliance on government funding is a crucial aspect of its growth and success.

[1] https://www.bloomberg.com/news/articles/2022-03-28/space-x-is-winning-big-in-u-s-contracts-with-biden-funds-soaring [2] https://www.statista.com/topics/4297/electric-cars-subsidies-in-the-us/ [3] https://www.washingtonpost.com/technology/2022/12/02/elon-musk-subsidies-taxpayers/ [5] https://www.nytimes.com/interactive/2021/06/30/business/economy/tesla-state-subsidies.html [6] https://www.nytimes.com/interactive/2021/03/01/us/tesla-ny-subsidies.html [7] https://www.nytimes.com/interactive/2021/03/01/us/tesla-texas-subsidies.html [8] https://www.nytimes.com/interactive/2021/06/30/business/economy/tesla-state-subsidies.html [9] https://www.bloomberg.com/news/articles/2021-09-09/tesla-california-moves-to-restrict-address-of-elite-gigafactory [10] https://www.forbes.com/sites/jackkelly/2022/01/25/tesla-turned-us-tax-credit-for-electric-cars-into-a-windfall-by-giving-discounts-and-cashing-in/?sh=70faec5a3c3e

1. The Washington Post's report confirmed that Elon Musk's tech empire, mainly comprising Tesla and SpaceX, heavily relies on future subsidies, contracts, loans, and tax credits from the government.
2. SpaceX's $1.8 billion spy satellite project for the National Reconnaissance Office and Pentagon's spy satellite division is one of the undisclosed figures contributing to Musk's companies' reliance on government funding in the tech and future space sectors.
3. Elon Musk's current stance against federal benefits like Social Security contrasts sharply with his ventures' significant past and ongoing dependence on government subsidies, as highlighted by The Washington Post's investigation.
4. Despite Musk's Companies' significant reliance on government funding, some tech billionaires, like Musk, are advocating for subsidy cuts for future technologies, including SpaceX, which could impact their future growth and success in the tech sector.

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