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  1. #1

    Again from the mind of Warren Buffett

    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

    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

    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.

    Interesting and valid Ideas

    Actually await AUT replies
    Collecting Ben Roethlisberger and Charlie Batch
    “The only real failure in life is not to be true to the best one knows.”-Buddha

  2. #2

    AUTaxMan's Avatar

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    At first glance, I actually have no problem with any of that. I think a more practical problem is that the American people are so politically disengaged that not enough pressure could be mounted to accomplish any of this. There is some really fascinating stuff to read by the founders on the intended role of Congress. I think we can all agree that they have become the monster that the founders feared. I'll see if I can dig up a few nuggets tonight.

  3. #3

  4. #4
    Quote Originally Posted by shrewsbury View Post
    how about he pays his back taxes?
    How about Papa John follows the law without whining?

    Can't always have what you want.

  5. #5
    Well first Jay I respond with right After Mitt Pays taxes....

    But looking tot he this, His Corporation is working with the IRS to secure the lowest tax rate possible.
    It that not the American way ???

    But again I think you are missing the spirit of this
    Collecting Ben Roethlisberger and Charlie Batch
    “The only real failure in life is not to be true to the best one knows.”-Buddha

  6. #6
    so he can complain the tax rate for the rich is too low and not even pay that, then try to get a break?
    does romney work for him ?
    last i knew romney paid his taxes and buffet did not, romney didn't complain, buffet did, buffet was obama's guy when it came to raising taxes on the rich, romney was not

    so i would not bother listening to someones ideas who is obviously a scammer

    when you find romney owes back taxes, let me know

  7. #7
    Forget who said it for a second. Do you like the idea or not.

  8. #8
    wickabee, just had to make me read it??!!!!

    does this include the senate?

  9. #9
    did anyone fact check this?

    Members may choose from any of the various health plans offered all federal government workers. The cost depends on whether they choose an HMO plan or a PPO plan. They may also pay an additional fee and use the services of the Office of the Attending Physician in the U.S. Capitol when they are in Washington, D.C.
    Since January 1, 1984, all Members of Congress participate in the Social Security system and are required to pay Social Security taxes.

    Members of Congress who were elected after 1984 are automatically enrolled in FERS, the Federal Employees' Retirement System.

    However, certain groups of federal employees within FERS, including Members of Congress, Firefighters, Law Enforcement Officers, and Air Traffic Controllers are classified as Special Groups and have retirement benefits calculated at a higher rate than other civilian employees.

  10. #10
    Quote Originally Posted by shrewsbury View Post
    how about he pays his back taxes?
    I don't know if he personally owes back taxes (he might) but I do know Berkshire Hathaway has back taxes.

    Berkshire Hathaway, the eighth-largest public company in the world according to Forbes, openly admits to still owing taxes for years 2002 through 2004 and 2005 through 2009, according to the New York Post. The company says it expects to "resolve all adjustments proposed by the US Internal Revenue Service" within the next year.
    As for his idea. Do people even use email anymore that you could reach everyone in 3 day? I don't even think in the heyday of email that you could.
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