A Buffett Suggestion

I don't know if the following email I received is accurately attributed to Warren Buffett. It doesn't matter. The suggestions are solid, smart, and should be implimented. Perhaps you will pass it on as I am through this blog.




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.

         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.