As I understand it, Mr Schiff is proposing the USA means tests the American pension scheme, Social Security. Australia has been doing that for years. How much, if any Age pension you get depends on your income and assets. I hasn't lead to poor people being thrown on the street but the opposite. it allows more money to be spent on those who need it. We also have the Superannuation Guarantee, a type of privatized pension which allows works to retire with very large sums. Schiff talks sense.