Fact check: Does Elon Musk pay the same in Social Security as a $185k-earner?

The fact check centers on whether Elon Musk pays the same Social Security taxes as a person earning $184,500, a claim renewed after Musk’s net worth was cited as reaching $1.2 trillion and a “trillionaire” milestone on June 12. PolitiFact rated the statement “Mostly True” because Social Security payroll taxes apply only up to an income cap—$184,500 in 2026—so wages above that level are not taxed. However, the outlet notes it is unclear whether Musk’s wage-based compensation would reach the cap, and much of his wealth gains can come from stock value increases that are not subject to Social Security taxes. For 2026, the maximum Social Security tax liability would be $11,439 for employees, or $22,878 for self-employed. Bernie Sanders and PolitiFact also discuss his Social Security Expansion Act, proposed to remove the cap for earnings over $250,000.