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Gingrich calls for private retirement accounts



Published: Mon, November 21, 2011 @ 4:39 p.m.

Gingrich calls for private retirement accounts

MANCHESTER, N.H. (AP) — Republican presidential contender Newt Gingrich is telling college students that he would let them use their payroll taxes to fund private retirement accounts instead of putting the money into Social Security, if they want to.

Younger workers could also opt to stay in the Social Security system.

Gingrich says his proposal would let those workers decide what to do with their money and how to save for retirement.

He says private accounts are likely to perform better than Social Security, even in grim economic times.

Stocks had plunged several hundred points by midday as a special committee in Washington appeared ready to declare failure in its attempt to agree on trimming the federal budget deficit.

The former House speaker outlined his proposal in a speech today in New Hampshire.


Comments

1tommygc(25 comments)posted 2 years, 8 months ago

I guess these Washington pieces of garbage arent any different than the Ohio pieces of garbage that represent us .It just seems they are allergect to any and all forms of work.I would be willing to bet if you gathered a group of people with just a little bit of common sense to trim the budget it probably could be done in less than 2 mabe 3 weeks.See the people with common sense would not have to worry about all these SPECIAL INTEREST GROOPS WANTS AND NEEDS!!!!!!!!!!!!! They also would not have to worry about all the PORK that these WASHINGTON and OHIO PIECES OF GARBAGE that they spread around their districts!!!!!!!! YOU WERE ELECTED TO DO A JOB , DO IT, OR STEP DOWN!!!!!!!!!!!!!!!!!!!

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2mrblue(968 comments)posted 2 years, 8 months ago

Newt is a hoot. The man is so far from reality its ridiculous. Give it up Newt, you got no chance.

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3captdinger(108 comments)posted 2 years, 8 months ago

wow, "tommygc" really knows what he's talking about ???????????????????? Typical valley diatribe

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4db(280 comments)posted 2 years, 8 months ago

All of you jackasses knocking Newt haven't been paying attention. He truly is the smartest man in the room. Put down the Obama Kool-Aid, listen to what Gingrich says, and maybe those weak brain cells will work again.

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5UnionForever(1470 comments)posted 2 years, 8 months ago

We been down this road before with Bush, the country as a whole loves social security and does not want private accounts which in 2008 were proved the death of retirees 401K accounts when the market crashed. Newt has spent too much time lobbying, chasing women, and not enough time listening to the people. He's another non-winner for the party of NO!

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6hiker27(18 comments)posted 2 years, 8 months ago

I do agree a small portion of child labor are not good. Case in point, You can not hire young people from the vo tech programs to work in an industrial atmosphere if they will be working under overhead cranes or other industrial equipment. What is the point of these work programs if you can not train in a industrial setting for a future career.

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7db(280 comments)posted 2 years, 8 months ago

Newt's child labor comment is that students in poverty areas should be permitted to work in the school they are attending to do clean up & custodial work. This is to provide a work ethic and cash to the student. I agree 100%. We used to have students push brooms & dusters back in the '60s before the world of welfare; it was good for the youngster and instilled positive values; unlike welfare & freebie handouts.

I wish I had been able to not pay into Social Security & instead put that money into an IRA.. Social Security is nearing bankruptcy and the money paid in will be gone before those now in their 50s retire. The government under Jimmy Carter has taken that money out of the lockbox and used it in the general fund - which is now gone (ie. our national debt).

Like him or not; pay attention to Newt Gingrich. Unlike Barrack Obama, he is the smartest guy in the room and 100% for America; what we desperately need today.

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8commoncitizen(959 comments)posted 2 years, 8 months ago

Not sure were this topic got to "child labor" But getting back to retirement funding, I would have been better off to put MY money where I wanted to invest, the pay back versus Social Security would have been much better. thje only problem I see is making sure that SOME (if not most) people wouldn't put anything into savings and when they did retire they wouldn't have ANYTHING and the working people would have to "support" them (welfare)

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9squigglyjams(11 comments)posted 2 years, 8 months ago

Is this the GOP has to offer? God help us all.

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