In a long, detailed, entitlement reform paper at Newt.org, Gingrich in fact proposes eventually expanding such accounts ultimately to finance all the benefits now financed by the payroll tax, with the accounts finally displacing the payroll tax entirely with a personal, family wealth engine instead.
The idea is that e-commerce is a such a powerful economic engine that any short-term tax revenue drop would be offset by greater economic growth and the creation of more small businesses, more jobs, higher incomes, greater income tax collection and, ultimately, a larger tax base.