Skip to comments.Our Congress IS Special! Warren Buffett suggestions to reduce deficit..
Posted on 08/08/2012 4:41:45 AM PDT by 56newblog
I can go along with most of the suggestions, especially #3; #4; #5; #7; and #8..
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 one (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 2012
1. No Tenure / No Pension.
2. A Congressman/woman collects a salary while in office and receives no pay when they're out of office.
3. Congress (past, present & future) participates in Social Security.
4. 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.
5. Congress can purchase their own retirement plan, just as all Americans do.
6. Congress will no longer vote themselves a pay raise.Congressional pay will rise by the lower of CPI or 3%.
7. Congress loses their current health care system and participates in the same health care system as the American people.
8. Congress must equally abide by all laws they impose on the American people.
9. Anytime there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election.
10. All contracts with past and present Congressmen/women are void effective 12/1/12. The American people did not make this contract with Congressmen/women.
Congress 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.
committee chairpersons are appointed by party on a rotating basis alphabetically by state. IMHO, current system violates equal protection.
Warren Buffett is highly overrated.
Having said that, here is the reality check. The people who need to pass these changes are the very ones who profit the most from the current system - our rulers. That's right, I just called the past and current crop of Congresscritters by their correct name. If they make rules that don't apply to themselves, force the rest of us to live by those rules, and then grant themselves special privileges what separates their actions from a king? Say, someone like George III of England?
That looks like a guarantee of a tax increase.
We can dream, can’t we?
Buffett could also reduce the deficit by directing his company - Berkshire-Hathoway - to pay the taxes it owes.
How about SPENDING CUTS?
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