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Thread: Warren Buffet's plan to end the debt and fix Congress

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    Warren Buffet's plan to end the debt and fix Congress



    From a forwarded email I got:

    Warren Buffett, in a recent interview with CNBC, offers one of the best quotes about the debt ceiling:



    "I could end the deficit in 5 minutes," he told CNBC. "You just pass a law that says that anytime there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election."

    The 26th amendment (granting the right to vote for 18 year-olds) took only 3 months & 8 days to be ratified! Why? Simple! The people demanded it. That was in 1971...before computers, e-mail, cell phones, etc. Of the 27 amendments to the Constitution, seven (7) took 1 year or less to become the law of the land...all because of public pressure.

    Warren Buffet is asking each addressee to forward this email to a minimum of twenty people on their address list; in turn ask each of those to do likewise. In three days, most people in The United States of America will have the message. This is one idea that really should be passed around.

    *Congressional Reform Act of 2011*


    1.No Tenure / No Pension. A Congressman collects a salary while in office and receives no
    pay when they are out of office.


    2.Congress (past, present & future) participates in Social Security. All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security system, and Congress participates with the American people. It may not be used for any other purpose.

    3.Congress can purchase their own retirement plan, just as all Americans do.

    4.Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%.

    5.Congress loses their current health care system and participates in the same health care system as the American people.

    6.Congress must equally abide by all laws they impose on the American people.

    7.All contracts with past and present Congressmen are void effective 1/1/12. The American people did not make this contract with Congressmen. Congressmen made all these contracts for themselves. Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, so ours should serve their term(s), then go home and back to work. If each person contacts a minimum of twenty people then it will only take three days for most people (in the U.S.) to receive the message. Maybe it is time.

    THIS IS HOW YOU FIX CONGRESS














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    Re: Warren Buffet's plan to end the debt and fix Congress

    E-mail chains are notoriously inaccurate. This is no different. Buffet did say what is quoted in this e-mail. But what the author left out is how Buffet suggested we pay off the debt:

    “Our credit is good. It’s not like if we don’t pay we can’t pay. We have the right to print our own money. The U.S. is a very special place.”


    Michelle Malkin » Warren Buffett: I Could End the Deficit in 5 Minutes
    You, my brothers and sisters, were called to be free. But do not use your freedom to indulge the flesh; rather, serve one another humbly in love.For the entire law is fulfilled in keeping this one command: “Love your neighbor as yourself.”

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    Re: Warren Buffet's plan to end the debt and fix Congress

    Quote Originally Posted by ksu_aviator View Post
    E-mail chains are notoriously inaccurate. This is no different. Buffet did say what is quoted in this e-mail. But what the author left out is how Buffet suggested we pay off the debt:
    That does seem to be the plan with the most support.
    You don't have to agree with me. You have every right to be wrong if you want.

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    Re: Warren Buffet's plan to end the debt and fix Congress

    It seems like a good start, but it doesn't tackle the issues of lobbying and unlimited corporate campaign donations that will corrupt congress as long as they are legal.

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    Re: Warren Buffet's plan to end the debt and fix Congress

    There are not unlimited corporate campign donations. They are restricted by law.

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    Re: Warren Buffet's plan to end the debt and fix Congress

    Quote Originally Posted by Dittohead not! View Post

    From a forwarded email I got:

    Warren Buffett, in a recent interview with CNBC, offers one of the best quotes about the debt ceiling:



    "I could end the deficit in 5 minutes," he told CNBC. "You just pass a law that says that anytime there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election."

    The 26th amendment (granting the right to vote for 18 year-olds) took only 3 months & 8 days to be ratified! Why? Simple! The people demanded it. That was in 1971...before computers, e-mail, cell phones, etc. Of the 27 amendments to the Constitution, seven (7) took 1 year or less to become the law of the land...all because of public pressure.

    Warren Buffet is asking each addressee to forward this email to a minimum of twenty people on their address list; in turn ask each of those to do likewise. In three days, most people in The United States of America will have the message. This is one idea that really should be passed around.

    *Congressional Reform Act of 2011*


    1.No Tenure / No Pension. A Congressman collects a salary while in office and receives no
    pay when they are out of office.


    2.Congress (past, present & future) participates in Social Security. All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security system, and Congress participates with the American people. It may not be used for any other purpose.

    3.Congress can purchase their own retirement plan, just as all Americans do.

    4.Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%.

    5.Congress loses their current health care system and participates in the same health care system as the American people.

    6.Congress must equally abide by all laws they impose on the American people.

    7.All contracts with past and present Congressmen are void effective 1/1/12. The American people did not make this contract with Congressmen. Congressmen made all these contracts for themselves. Serving in Congress is an honor, not a career. The Founding Fathers envisioned citizen legislators, so ours should serve their term(s), then go home and back to work. If each person contacts a minimum of twenty people then it will only take three days for most people (in the U.S.) to receive the message. Maybe it is time.

    THIS IS HOW YOU FIX CONGRESS

    Reply to: Reply to Jon and Barb Gilbert
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    I think I'm in love.

    Edit: One problem. Warren Buffett didn't say it and much of it is untrue. Example: Congressmen pay into Social Security like everybody else. (They also have a separate retirement plan, but that's besides the point.) Re healthcare, the new healthcare law applies to Congressmen just as it does to every other American. They are given no special dispensation. Congressmen are not exempt of any laws.

    Congressional Reform Act of 2011-Fiction!
    Last edited by MaggieD; 10-20-11 at 08:59 PM.
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    Re: Warren Buffet's plan to end the debt and fix Congress

    Beter redact John and Barb Gilbert from your post.

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    Re: Warren Buffet's plan to end the debt and fix Congress

    Quote Originally Posted by Reg View Post
    There are not unlimited corporate campign donations. They are restricted by law.
    You're right; I take that back, nearly unlimited.

    I was referring to this.Supreme Court Blocks Ban on Corporate Political Spending - NYTimes.com
    Last edited by Teh Internets; 10-20-11 at 08:58 PM.

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    Re: Warren Buffet's plan to end the debt and fix Congress

    Quote Originally Posted by Reg View Post
    Beter redact John and Barb Gilbert from your post.
    Oh, crap. I thought I had done that.

    How do I do it now?
    You don't have to agree with me. You have every right to be wrong if you want.

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    Re: Warren Buffet's plan to end the debt and fix Congress

    Ok, so it sounds good. Of course it is undoable because congress would actually have to pass it.

    He also left off shooting half the lawyers in the country and limiting the others to only being allowed to hold the political office of a judge or district attorney.

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