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Newt Gingrich To Unveil Alternative To Social Security In New Hampshire

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Adenoid_Hynkel Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 05:34 AM
Original message
Newt Gingrich To Unveil Alternative To Social Security In New Hampshire
Source: Huffington Post

MANCHESTER, N.H. -- Republican presidential contender Newt Gingrich is set to introduce a "growth and innovation" plan that would offer younger workers an alternative to Social Security.

The former House speaker, whose political comeback has seen his political fortunes improving in recent weeks, planned to tell students at St. Anselm College Monday that he would allow some members of the U.S. workforce to choose private retirement accounts and end the expectations that Social Security will be a safety net for older workers.

Gingrich's plan would also let the markets determine retirees' income.

"Growth and innovation means securing and strengthening Social Security by empowering Americans with the option to invest in personal savings accounts," Gingrich said in remarks prepared for delivery. "This gives Americans ownership over their retirement and the opportunity to unleash the power of the market to enjoy prosperous retirements beyond their most optimistic expectations, while also wiping out all future liabilities in the Social Security system."

Read more: http://www.huffingtonpost.com/2011/11/21/newt-gingrich-...
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Adenoid_Hynkel Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 05:34 AM
Response to Original message
1. Also in his plan:
Edited on Mon Nov-21-11 05:35 AM by Adenoid_Hynkel
Taking advantage of Gingrich's repeal of child labor laws, each elderly person would be assigned ownership of a three-kid team from the newly-created Children of Unwed Teenage Mothers Orphanages. These pint-sized chain gangs would then go about town performing manual labor to help pay for the retiree's cost-of-living expenses.
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SpiralHawk Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 05:37 AM
Response to Reply #1
3. "At last, you smelly American proles will be put in your place. Smirk." - Republicon 1%ers
Edited on Mon Nov-21-11 05:39 AM by SpiralHawk
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Brigid Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 02:37 PM
Response to Reply #3
38. Shoulda dressed up the other end of that dog.
:eyes:
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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 05:36 AM
Response to Original message
2. NH Invented the Alternative: Live Free or Die
Edited on Mon Nov-21-11 05:37 AM by Demeter
which is why I got out. Dying didn't appeal to me.
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SpiralHawk Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 05:46 AM
Response to Reply #2
8. NH is a Granite State of Mind
Edited on Mon Nov-21-11 05:49 AM by SpiralHawk
But when I think of NH I always remember that, immediately following the "Mission Accomplished" prance across the deck of xCommander AWOL Bush (R) in 2002, the world famous Old Man of the Mountain in NH's Franconia Notch, committed ethical suicide and collapsed. The whole face of the mountain was lost - collapsing into dust.

NH's symbol of integrity could no longer bear the lies the Republicons told to start the war, and certainly could not bear AWOL Bush's blatant lie that the Mission was Accomplished. The Old Man saw the nation 'losing face' over these deliberate republicon lies to the citizens of the USA, and chose ethical suicide as a way to maintain honor. Shit. Bullshit. It's nine freaking years later. Bullshit.
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sofa king Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 05:42 AM
Response to Original message
4. The alternative: poverty, low wages, early death.
While conservatives generally want to believe the fairy tales about our origins, they are social Darwinists to their very core. The joke above is only funny until Gingrich speaks. Then it will be more real than fun.
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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 05:43 AM
Response to Original message
5. Tthe meanest clown in the clown car is now Tied with the changingest clown.
Indies would probably like Romney better, but will they vote in the primary?

As far as the fundies, they will have to choose between a serveral times divorced Catholic convert who blames adultery on his love of country and a Mormon n. Tough choice for them.

Will Huntsman get his day in the sun, too?

Hard to say who Democrats should root for, in terms of least electible.
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Hubert Flottz Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 05:44 AM
Response to Original message
6. I just unveiled a far better Alternative than NewtCase Ganggrinch
and then I wiped my Rick Perry and washed my hands.
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Adenoid_Hynkel Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 05:45 AM
Response to Original message
7. BTW, here's a fun retro '90s game:
the original list of Newt's GOPAC buzzwords.
http://www.fair.org/index.php?page=1276

every time Squealer speaks, you can check off at least half of these.
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jerseyjack Donating Member (369 posts) Send PM | Profile | Ignore Mon Nov-21-11 06:06 AM
Response to Original message
9. Boomers are starting to collect S.S. I don't see them going along with this.
It will go down faster than Bush's attempt to privatize. Boomers make up a significant part of the population...they also worry about their kids' welfare.
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greiner3 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 06:56 AM
Response to Reply #9
14. Granted, Senior Citizens do vote heavily;
And are the most counted on to vote in every election. However, i can see them going along with this proposal if the propaganda is preached to them in ways that tell them that Social Security is under attack from under funding and will run out of money-soon or before they will die. As for their worry about their children's welfare, I see this as a double win for the Republican plan, again, if the propaganda is pitched the right way toward Social Security will be broke and 'market forces' will and must triumph in order that their children's retirement will be secure.

The terrible danger in market forces is that the Republicans will also put into the bill that it is up to the consumer to budget their money and that the government will have no power to regulate the monies coming out of future paychecks. That means each and every wage earner must 'make choices' as to what, if any, they invest toward their future retirement. The OPer made the point of bringing up the fact that so many 99%ers live paycheck to paycheck. They can not be expected to sock away say 5% of each week's paycheck. So many people will go on the premise that their situation will only get better-next year. It is then they will expect to be able to start saving. But next year never comes as we know. Future generations of seniors will need to live with their children in order to survive, if they live long enough having no health insurance and dying.

That future is bleak with that future and the 99%ers need to know this and take action in order to stop the Republicans dismantling the Social Net that is so crucial for so many people.
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bulloney Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 06:12 AM
Response to Original message
10. I'll bet the plan goes something like this: Get rich or you can starve and freeze when you're old.
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CBHagman Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 06:19 AM
Response to Original message
11. Because, of course, we know that the average wage earner...
...has massive amounts of disposable income after mortgage/rent payments, health insurance premiums, the food budget, transportation, and saving for the kids' college fund, rainy day account, or what have you. :sarcasm:

Seriously, why are the 'cans still trotting out the notion that private accounts and the market are going to save us all? Did they miss the last three years or something? You could get away with the private account thing in a stock marekt boom, but forget about it today.
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subterranean Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 10:10 AM
Response to Reply #11
25. Bush failed to sell it even during a stock market boom.
Hard as he tried, he was unable to convince the American people. And he was only preaching partial privatization. I don't see how Gingrich will be any more successful.
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Turbineguy Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 06:47 AM
Response to Original message
12. The Social Security Trustfund
would be a juicy piece of swag for Wallstreet.
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Gman Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 06:54 AM
Response to Original message
13. And he would campaign on all this as the nominee in the GE
Good. I hope he gets the nomination.
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quaker bill Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 07:09 AM
Response to Original message
15. Private accounts redux
It is a really bad idea. Just check your 401K over the last few years, then assume you really needed it at the low point. No matter how you arrange this some folks retire everyday, so some will have to draw on the account at the worst possible moment.
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izquierdista Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 07:14 AM
Response to Original message
16. It involves lots of cardboard signs and tin cups
"Americans will be empowered to invest in the street corner spare change industry," Gingrich said as he tossed cake to the peasants.
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Joe Bacon Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 07:35 AM
Response to Original message
17. Wow, is he going to franchise Poor Farms and Poor Houses?
Oh, if only Grandma Bacon were still around! She's smack that ass in the head with a 2 by 4! I still remember her telling me of the hell inside Poor Houses--forcing people to do their assigned work no matter how old or how sick they were and if they didn't do them, the housemaster would lock them in their bunk room with no food or water. Grandma would sneak food into them. She got caught and was blacklisted for "promoting laziness".

Grandma never forgot that. It's a shame so many self centered Ayn Randian snots were never on the receiving end of that abuse.

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CBHagman Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 02:33 PM
Response to Reply #17
37. I wish Grandma Bacon were around too.
Maybe we should start handing out copies of The Good Old Days -- They Were Terrible! or perhaps David von Drehle's Triangle.
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Javaman Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 07:37 AM
Response to Original message
18. let me guess: corporate run SS for profit. nt
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urgk Donating Member (982 posts) Send PM | Profile | Ignore Mon Nov-21-11 08:13 AM
Response to Original message
19. It's his plan to employ the retirees...as divorce lawyers.
Or as envoys that might go to the hospital to deliver divorce papers so he doesn't have to get his hands dirty.

With Newt as its primary job creator, one day we'll all be living large, gainfully employed by the marital breakup industry.
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Yo_Mama_Been_Loggin Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 08:26 AM
Response to Original message
20. We have alternatives already
They're called IRAs and 401Ks.
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EC Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 09:38 AM
Response to Original message
21. If I were one of these young people I'd wonder WHY
Wall Street is so desperate to get the money from Social Security that every one of their "bought reps" push to privatize it and put it into the market. It sounds to me they'll make sure to get it all before any of these young people have any chance at collecting it...kinda like the value of 401Ks recently, up and down.
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plumbob Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 09:42 AM
Response to Original message
22. See, this is why I'm an atheist: no god would allow a shitty person
like this to live.

Period.
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Auggie Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 09:43 AM
Response to Original message
23. Another losing idea from the conservative un-think tanks
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Locrian Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 09:52 AM
Response to Original message
24. piece of shit plan, but...
Piece of shit plan, but... a lot of the younger people (not all) will buy into it because

a) they think they "know better how to invest"
b) they're young and retirement is far away

It's a strategy to privatize, and it preys on a group that is vulnerable to the marketing. Hopefully they'll see though it.
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Hugin Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 10:24 AM
Response to Original message
26. Is he going on a Hunger Strike? n/t
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madrchsod Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 10:35 AM
Response to Original message
27. i`m sure my kids are going to buy this bullshit
they have been raised through 2-3 recessions. they know both my wife and i lost pensions during the last 40 yrs and they also know the 401k`s are`t that great either.


just who in the hell is next talking to?
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sarcasmo Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 10:37 AM
Response to Original message
28. Gingrich wants to steal more money.
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valerief Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 10:41 AM
Response to Original message
29. The old Wall Street Social Insecurity scam! Typical Newt. nt
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They_Live Donating Member (244 posts) Send PM | Profile | Ignore Mon Nov-21-11 10:59 AM
Response to Original message
30. NEW!
Anti-Social Insecurity!
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LongTomH Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 11:09 AM
Response to Original message
31. You think young people will buy this BS?
If the can find a job (or two or three) they're barely able to live (and maybe pay off college loans!). And, as someone already pointed out, they've already lived through at least two or three recessions -- and the subsequent 'jobless recoveries!'

"Unleash the power of the market," my left testicle! Get a clue, Newt! :grr:
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SoapBox Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 11:23 AM
Response to Original message
32. I simply want an alternative to Newty!
Hey Newty...GO...A...WAY!
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ladjf Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 12:31 PM
Response to Original message
33. The "Newt" is losing it. nt
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Odin2005 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 12:38 PM
Response to Original message
34. TRANSLATION: The Banksters want your SS money.
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Kingofalldems Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 12:43 PM
Response to Original message
35. George Carlin was right about everything.
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KamaAina Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 02:02 PM
Response to Original message
36. Exclusive pictures
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yurbud Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 02:37 PM
Response to Original message
39. Republicans want to pay you LESS and have you save MORE? That sounds eerily like
their tax & spending policies for the government.

How many more times can they sell that shit before people start throwing rotten fruit at them?
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yurbud Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 02:38 PM
Response to Original message
40. translation: trust Wall Street--what could go wrong?
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Tom Ripley Donating Member (418 posts) Send PM | Profile | Ignore Mon Nov-21-11 03:49 PM
Response to Original message
41.  Newt = PT Barnum as psychopath
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KamaAina Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-21-11 04:47 PM
Response to Original message
42. Because 401(k)s have worked so well
like Mom's, which promptly went belly up. :grr:
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CBHagman Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-26-11 08:43 PM
Response to Reply #42
47. That's what I was going to say.
It's a GOP article of faith these days that the market will do everything better -- provide affordable health care, allow a secure retirement.

Huh. People have watched what the market did to their accounts, property, and budgets the last few years. Ever open a savings account and have the rate of return adjusted downward several times within the space of a month?

And on top of that, the vast majority of people don't have much in the way of disposable income for much of their working lives.

I don't think Gingrich will get away with selling this, to Republican voters, Democrats, or independents.

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jmowreader Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-26-11 08:11 PM
Response to Original message
43. The Gingrich alternative to Social Security, in a nutshell
Newt eliminates Social Security. He then sends you a box that says "Do not open until age 65."

On your 65th birthday, you open it to discover a cell phone, which has five non-expiring minutes loaded on it and one huge button in the middle, and a loaded .357 Magnum.

On the day you run out of money, you press the huge button, then use the pistol on yourself. The waste disposal personnel home in on your cell phone signal, pick up the body and deliver it to a waste disposal plant.

Two weeks later, you're on sale for $2.99 per box in your local Walmart. (And before anyone clicks "Reply" to tell me I'm a sick bastard, consider: this would be FAR more humane than letting people starve to death under Gingrich's plan.)

BTW, how long DOES it take to convert someone into Soylent Green?
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unkachuck Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-26-11 08:33 PM
Response to Original message
44. "...to enjoy prosperous retirements beyond their most optimistic expectations,..."
....if young people want '...to enjoy prosperous retirements beyond their most optimistic expectations,...' they should elect people who will increase their guaranteed Social Security benefits....

....why give your retirement money to crapitalist thieves....they stole and reduced our 401Ks to 101Ks and the crapitalists will do the same to you....
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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-26-11 08:35 PM
Response to Original message
45. Ooooo, how exciting. I can hardly wait. ZZZzzzzzzz
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Canuckistanian Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-26-11 08:35 PM
Response to Original message
46. And that idea was SO popular during the Bush regime
Oh wait, it wasn't.
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