Buffet gets it...Do you?

[Rex E.]

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.



Congressional Reform Act of 2012

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 12/1/12. The American people did not make this
contract with Congressmen/women.

[Boreas]

http://www.snopes.com/politics/quotes/buffett.asp

[Bigerik]

I do like it tho.

[icenine]

Actually, paying legislators a living wage was a progressive concept in both British and US History, the thought being that a well paid office holder could concentrate on the doing the work of the people that needs to be done. So I am for the status quo in that respect.

If they are not doing their jobs do not reward them with re-election. I am for pensions. I am a government employee after all.

[Rex E.]

Originally Posted by icenine

Actually, paying legislators a living wage was a progressive concept in both British and US History, the thought being that a well paid office holder could concentrate on the doing the work of the people that needs to be done. So I am for the status quo in that respect.

If they are not doing their jobs do not reward them with re-election. I am for pensions. I am a government employee after all.

You are for someone getting a million dollar pension on the backs of tax payers after only working one year......?

[Rex E.]

Originally Posted by Boreas

http://www.snopes.com/politics/quotes/buffett.asp

OK....

Still, I've been saying most of this stuff for 20+ years now. Why is everyone else not on board and demanding it?


oops, I forgot to delete the part about asking to email it around. That has been done now.

[bobabode]

Originally Posted by Rex E.

OK....

Still, I've been saying most of this stuff for 20+ years now. Why is everyone else not on board and demanding it?


oops, I forgot to delete the part about asking to email it around. That has been done now.

Hey Paul, Do it! Campaign finance reform, too. Nix the TV ads also.

[mpholland]

AFAIK, Congressfolk don't get full pay after one term, and they have been paying into SS since 84. I believe there is wording in the healthcare reform which states that it is applicable to congress as well. I do find it funny however that we pay our federal, state and local lawmakers so well, yet it is a conflict of interest to pay board members for many corporations and associations. I know our HOA board members can't be paid.

[Wasillaguy]

I like all of it. One observation- the non-eligibility for re-election thing attributed to Buffett was brilliant, but then didn't make into the reform act list below.

Some of these ideas would be well applied to all gov employees.

[icenine]

Yeah get rid of the government.....Walmart can take care of us......import goods from China....keep wages down. Make it so everyone can not afford to shop anywhere but Walmart. Yeah that is the ticket.....