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10/20/2011

A good idea from Warren Buffett

Applicable to all countries....



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 2011*_

1. No Tenure / No Pension.

A Congressman/woman collects a salary while in office and receives no pay when they're 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/women are void effective 1/1/12. The American people did not make this contract with Congressmen/women.

Congressmen/women 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. Don't you think it's time?

THIS IS HOW YOU FIX CONGRESS!

If you agree with the above, pass it on. If not, just delete.
You are one of my 20+ - Please keep it going, and thanks.

7 comments:

notanotherspinstory said...

Warren Buffet is a genius.

But who will put the bell on the cat?
The cats themselves?

Anonymous said...

See !

Where is the need for the Americans to occupy Wall Street, Stone Road or Steel Alley.

Just do as Warren Buffet says.

What about the people in Sin ?

Anonymous said...

What Warren Buffet suggested seems applicable to Sinkapore situation. Parliament (Congress) raises MP (congressman) salary and approve huge pay to the members and the people have practically no say on this.

Most American people are not as smart as Warren buffet.

Anonymous said...

USA liberal democracy has produced people like Warren Buffet & bill Gates.

What they need for their liberal democracy to be managed and advised by such people.

Anonymous said...

If the average American is of Buffet Calibre, the World would have been in big serious trouble.

The wealth Warren Buffet is holding is enough to save those millions who died of starvation.

patriot

Anonymous said...

"Patriot" does not understand basic economics.

Patriot said "The wealth Warren Buffet is holding is enough to save those millions who died of starvation."

You talk as if you think he has a big stash of bills in a vault doing nothing. The money that Buffet (or any capitalist) "Holds" is not sitting idle; it is working 24 hours per day, making electronics, food and medicine, housing, and hundreds of other things. It is providing insurance for millions of people and keeping stores open so people can work there and so people can buy the things they need. Take Buffet's "Holdings" and feed the world's hungry? Yeah, then next week we're all hungry when factories shut down and stores have nothing on their shelves and no employees...

Anonymous said...

It is true that me has little or no knowledge about economic and finance.
However, me does know that both Buffet and Gates went to China to campaign the rich Chinese to donate.

Me also knows that both have donated much to HIV related funds.

patriot also knows that their wealths come from their employees, many of which are from third world countries been/being exploited by first world entrepreneurs.

patriot