$100,000 Social Security Benefit Is Too Much: Allison Schrager

When someone says a retiree is “living off Social Security,” it’s not usually $100,000 a year. But some US retired couples will be receiving that much in a few years — and a proposal to cap their benefit at that amount has started a painful and much-needed conversation about who should get government benefits and how much.

America’s welfare state is not just a safety net for the most needy or unlucky. Over time, it has become a significant source of income and services for the middle and upper-middle class. There is nothing wrong with that, in principle, if it’s ...