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

Dittohead not!

Dittohead not!

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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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ksu_aviator said:
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:
Click to expand...

That does seem to be the plan with the most support.
 
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.
 
There are not unlimited corporate campign donations. They are restricted by law.
 
Dittohead not! said:

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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Click to expand...

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:
Beter redact John and Barb Gilbert from your post.
 
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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