Scott Galloway is a professor at New York University. He has recently made headlines with his controversial suggestion on the future of social security. Galloway advocates for implementing means testing. It is a policy that would eliminate or reduce Social Security benefits for wealthier seniors.
According to his estimates, this shift could affect between 10% and 30% of current beneficiaries. He argues that this reform would correct a generational imbalance. He stated that younger Americans are unfairly funding benefits for the wealthiest generation in history.
“Every year, we collect $1.2 trillion from young people. These young Americans are not doing as well as the past generations,” Galloway claimed.
However, Galloway’s proposal has faced strong pushback from economists and policy experts. They have found a few critical flaws in the plan.
Critics have argued that the introduction of means testing would drastically change Social Security. The program has had widespread political support for a long time because it is a universal system. Means testing will damage its universal approach. It could also lead to future privatisation or reductions in wider benefits.
This Social Security ‘fix’ would end up destroying it https://t.co/oPy97qLdJ0
— Rusty Harris (@RustyHarri47953) May 8, 2025
Analysts have also cautioned that Means Testing would not be a cheap solution. It would be necessary to add more bureaucracy. It may also increase operating expenses to administer the system and decide who is eligible. Instead of saving money, it could lead to inefficiencies and higher costs.
Since Social Security was created in 1935, means testing has been debated and implemented a few times on a trial basis. However, it has never been implemented completely. Policymakers have always shunned it out of fear that it would undermine the program’s widespread appeal and present practical difficulties.
With rumours ministers looking to means test universal benefits to save £, hugely concerning and shocking the DWP Secretary couldn’t rule out means testing:
▪️Personal Independence Payments
▪️Carers Allowance
▪️Attendance Allowance
▪️Disability Living Allowance for children pic.twitter.com/vOx7LytLcP
— Jonathan Ashworth (@JonAshworth) October 31, 2022
There has been widespread opposition to this idea. There is a difficulty in determining assets and income, as well as the possibility of fraud and unfairness. Supporters of the current system have argued that because it is universal, it promotes national unity and guarantees uniform assistance for all income levels.
If Mean testing is implemented, retirees will have to modify their financial plans. The wait to receive full Social Security benefits will also increase. The Social Security Administration and experts already urge employees to wait before claiming benefits.
Financial planners stress that retirees should request full benefits as late as possible so that they can receive full benefits for a longer period. It is especially important now since there is uncertainty in the policy market.
Even if you’re a person that fully believes in means testing, the US doesn’t even measure poverty accurately to use for a means test.
The US measures poverty at 3x the cost of min food diet, assumes worker has stay at home spouse for childcare, and doesn’t factor cost of living.
— Alexandria Ocasio-Cortez (@AOC) October 2, 2021
Galloway’s plan has certainly sparked important discussions concerning Social Security’s sustainability. However, the viability and wider response to Means Testing are still up for debate. The future of Social Security remains uncertain as the country struggles to strike a balance between fiscal responsibility, program integrity, and generational equality.
Many experts argue that a more thorough, nonpartisan solution will be required to protect the program for future generations. Even though means testing may appear like a quick fix to some.
