Scott Galloway, a NYU business professor, proposed cuts to Social Security benefits for wealthier seniors on his podcast, arguing it would address wealth transfer from younger to older generations. However, this approach, known as “means testing,” could undermine the program’s universal appeal, increase administrative costs, and create disincentives for recipients to work. Critics argue that while Galloway’s economic rationale has merit, the political implications could jeopardize the program’s sustainability and effectiveness. Social Security’s status as an earned benefit is crucial for maintaining public support and protecting it from political cuts.
