Billion Photos, Getty Images Signature, en.elcierredigital.com Shock in the United States: This about the SSA makes many tremble, keep it in mind
Huge commotion after the words of a US expert about pensions: the controversy has only just begun
In the United States, a major controversy has erupted following statements by Professor Scott Galloway from New York University's Stern School of Business. In his podcast "The Prof G Pod," Galloway proposed eliminating pensions from the SSA for "between 10% and 30%" of retirees who, according to him, "do not need them."
This proposal has caused a strong impact and debate across the country. Galloway argues that many current retirees receive more money than they contributed during their working lives.
Controversy in the United States over pensions: watch out for this professor's words
He points out that the generation over 65 years old is the wealthiest in history. The Social Security system annually transfers $1.2 trillion from young people to these well-off retirees. According to him, this is unfair and jeopardizes the system's sustainability.
To address this issue, Galloway proposes implementing a "means-testing" system, that is, evaluating each retiree's financial situation to determine if they really need to receive the pension.
He suggests that those with more than one million dollars in assets or passive income exceeding $100,000 a year should be excluded from Social Security benefits. He himself, with an annual income of $16 million, states that he should not receive these payments.
Criticizes the current cap on Social Security contributions
The proposal has caused mixed reactions. Some support the idea of redistributing resources to help those who truly need it and ensure the system's long-term viability. However, others criticize that this could undermine the principle that pensions are based on contributions made during working life.
Additionally, Galloway criticizes the current cap on Social Security contributions, which limits contributions from high earners. In 2025, income over $176,100 is not subject to Social Security taxes, meaning that someone earning millions contributes the same amount as someone earning $176,100.
For Galloway, this exacerbates inequalities and burdens younger workers. The proposal to eliminate pensions for wealthier retirees seeks to redistribute resources to those who need them most and relieve the burden on younger generations.
However, it also raises difficult questions about the essential principles of the pension system and intergenerational justice. This debate continues and is likely to influence future Social Security reforms in the United States.
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