Warren Buffett – How to Fix Congress

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 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  collects a salary while in office and receives no pay when
they are  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 are void effective
1/1/12. The American people did not  make this contract with Congressmen.
Congressmen 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. Maybe  it
is time.

THIS IS HOW YOU FIX CONGRESS!!!!!

If you  agree with the above, pass it on. If not, just delete.

470 thoughts on “Warren Buffett – How to Fix Congress”

  1. Why don’t you include Mr. Buffett’s suggestion in your Congressional Reform Act of 2011? I think it makes perfect sense to not allow anyone to be reelected if they allow the deficit to rise about 3%. If that happens, then we must find all new representatives until it is brought back under control.

  2. Kudos to Warren Buffet. This is something the 99% should demand in fairness to everyone. Serving as an elected official is a privelege and compensation for those offices should terminate when the job is finished. If Congress is subject to the same rules as everyone else you’ll surely see them become much more amenable to fairness. Maybe we should elect Warren?

  3. Oddly enough! I agree with Mr. Buffett WE have to fix Congress. Our political system is on a road of self-destructing, and no one man or party can fix this! It’s impossible, WE the people, the people the founding fathers envisioned were the end all.

  4. All members of Congress should receive the same benefits as do our Military members. Medical and retirement. Cap the retirement salary at 50% at 20 years, and qualify for TriCare and Medicare at the same time. I will bet that things get better for military members real fast!!

  5. This is a great idea – and it can never work as wrote. It can’t be an act to be effective, it must be a Constitutional Amendment. That is the only way you can prevent Congress from tampering with this proposed law. The only way it could become an Amendment is to have the states basically shove it down Congresses throat – 38 of them as I recall.

    If this is left in the hands of Congress like any other act, it will get sliced and diced until it is no longer recognizable (or enforceable). That is if it were even allowed onto the floor for a vote in the first place.

  6. Warren Buffet is right. Congress was put in Washington to represent us , the people, of which they are one of, not to get rich themselves by always writing new laws to benefit themselves and rob the American people, who put them there to begin with, Being a free and democratic nation, the rules are for all people to follow with no exceptions. That’s the way it all started and that’s the way it should have stayed, The irony of all of this is that we chose and entrusted these people, our Congressmen, to be there to help prevent such things as this from happening, by protecting the American people they represent and ensure that our country continues to run smoothly. The American people have been much too soft and too busy living their own lives to take time to realize that they were being taken captive, not by another country, but by our own Congress. “Freedom” is something our country was never supposed to have to worry or be concerned about.
    Now it is time to fight and take back our country.

  7. Mr. Buffett seems sold his heart and talking from Mind only…she should know that he needed Both together and then he should express his saying.

  8. And how about electing Warren Buffet to the newly created role of Vice President of Finance??? He could be running mate to the political figure of his choosing. Just a thought

  9. This represents a tiny band-aid to the severe hemorrhaging that’s going on. It’s going to take a lot more than bringing in a new regime of corruption and greed to fix the overall issues. How do you modify our current structure to motivate people to focus on human compassion rather than profitability? That’s a more important question to me. Mr. Buffett’s idea doesn’t address the root cause, it only offers a temporary band-aid, but at least he’s thinking outside the box.

  10. I think this is a great idea. BUT how do we get Congress aware? We can ALL become aware AND agree to this but until someone in Washington sponsors this, it would go nowhere, right?

  11. Well, sort of, Mr. Buffet may be right but I want to amend to his, Here is my filed lawsuit to God (Government of dept) for $9 Zillion dollar because of the past from last Sept. 1970 by Dr. Cole which I just discovered it last 1997-2000. A picture from newspaper that got me into flashback that I remembered saw my X-ray, http://profiles.yahoo.com/ily2uily Which it’s still my objectively to that; however, since after what happened to “Watergate scandal”, 9/11/01 America Attacked, USS Cole attacked, CIA Leak Probe, & FBI Broken Law” that I have been carrying on and It failed with Bush adm. so now President Obama adm., all I simply would like for him to come to Ocean Isle Beach, NC (airport) just to have “Hand Shaken” that I would be given $9 Zillion dollar to him so he may be given to Congress. I would like to be seen Congress to grant, “Bail out” to all US Citizens a million dollar CD (Certification of deposit) in their banks, (just suggestion, to use “Bank of America”) and start to have their income interest 3%; therefore, everyone would be earn equally about $30k annually and pay interestax about 1% with healthcare insurance, too! 1/2% interestax & 1/2% healthcare or what do you think the best way? It would be better than Social Security, SSI, SSDI, Medicare, Mediaid, may be not fair to everyone but My question Why me? Why States cut down most of Deaf schools? They are very wrong and they need to be change back old times and just closed down to all Deaf students who are in mainstream public schools because they don’t get good enough educational. At last, I want to file lawsuit to Duke University hospital $9 million dollar for my personal damages. Therefore, What does Warren Buffet think about my comments on this? I hope he may be agreed with me!! Have a Delighting Day!!!

  12. I would take it one step further. Congress adjourns a lot and the members frequently have extended periods of time “off”. We need the legislature elected to 4 year terms as the president. The Congress would take all their time off in the first year so the President can implement their plan without party and other political interferences. The President couldn’t blame Congress for not getting the opportunity to fix the country’s problems and the Supreme Court could fight the president if the actions are bad. The costs that the country would save not having a Congress and their staffs for that 1 year period every 4 years would balance the budget even more quickly.

  13. soundoff (413 Responses)
    Susan Wilshusen
    Your comment is awaiting moderation.

    Traditional government programs were one size fits all. These days with unemployment being the result of the undermining of social institutions by disrespectful, insane, clownlike, prejudicial behavior and the world economy moved from manufacturing and service economy to a more technical and service economy there is a need to retool the US workforce. Previous government help of unemployed workers might not have had to help workers get to job training programs or provide place to sleep for families, child care. laundry, food, gas, car repair, home purchase help, remedial education .Workers and potential workers were not as impoversihed as they are today and there were not as many of them down and sinking without regular paycheck and benefits, savings, professional associations, expertise in marketable trade. The middle class with money in the bank to avoid homelessness no longer exists. There is a need that I ask the govenment not to ignore to provide non traditional help in addition to job training at times and in places where all of the potential workers can avail themselves of it with remedial education that helps workers earn GED, bachelor, masters doctorate, law, medical or other specialized, marketable training that will resonate with workers’ talents. This is the additional, non traditional help that, imo ,will make all of the difference in helping unemployed, untrained, uncompetititve workers do something other than be told they were given $440Billion that was useless to them because they did not have the time, availability, energy and money to make good use of it: Give workers that are homeless a place to live, job training where they live, transportation to and from work, child care, laundry, bathing, food, direct deposit. Did you ask unemployed or slumming workers what they needed to get on their collective foots when you designed the $440 Billion job program? Did you live with economically and educationally teetering families for months to see what obstacles and cycles of dysfunction they are suffering from? These extra helps will make all of the difference in helping workers to make use of the other, traditional govenment helps. Without these extra helps I am not sure workers will even have enough money for gas to get to and from job training, child care, food, laundry, place to sleep, food. It might sound redundant but it is indispensible in making it possible for workers to benefit from all of that government money. Please change what you are doing so it helps workers be more wealthy instead of saying the money was spent and it did not help because it did not address the needs of the persons it was supposed to help. Meet workers where they are and give them what each needs to improve their situation. Do not throw money at untrained, uncompetitive, uneducated workers problem and make everybody even more upset from the futility of it all. Customize the help given to each family and single worker so it makes a difference for the better that is sutainable in each life. This other behavior is absurd.

    October 18, 2011 at 3:49 pm | Reply

  14. I am totally agreeing with..

    Congressional Reform Act of 2011
    1. No Tenure / No Pension.
    A Congressman collects a salary while in office and receives no pay when
    they are 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 are void effective
    1/1/12. The American people did not make this contract with Congressmen.
    Congressmen 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. Maybe it
    is time.

    THIS IS HOW YOU FIX CONGRESS!!!!!

    If you agree with the above, pass it on. If not, just delete.

    1. I am suggesting that Medical health Care and Insurance company should introduce the plan which can affordable to middle class people & poor family.

      These company can work with pharmaceutical companies and reduce prices of medicines and equipments to help and book a historical mark helping nation’s economy regulate.

      if business Man understand that they have gifted heart with mind, and they can feel pain of those who can back of nation and they also had given tribute to same businesses in drop by drop collection.

      a good Business Man should never think or be proud on themselves for their success and with ideal business ideas. if they understand simple logic that without middle class they would never grow their business these much nor they would get these much people in number like them for their success.

      “without middle class in country business men are nothing same way without business men in country middle class is nothing” they both need to clap together.

      Business Man Like Mr. Buffett can understand better, because he had so many up and down in life and struggle for success. so he know the value of money for middle class and poor class people as well aware of current situations.

      Sincerely,
      Deven Shah.

  15. This wouldn’t fix any problems at all. In fact it would only exacerbate them. The reason for this is that Congress isn’t the problem. Corporate power is. Changing the seats faster would only allow corporations to control the chambers even more effectively as there would be nobody there long enough to put up a fight. This idea is retarded.

  16. OMG. I LOVE this guy.
    I’m in. (As soon as I figure out how to forward this message.)
    Sheila Brady
    Alpharetta, Georgia

  17. I think we should elect him as president. He’s seems to have a lot of good suggestions in comparison to the lame ducks in congress today .

  18. And I think everyone should quote an old movie…..NETWORK…..simply open up the windows and yell at the the top of your lungs….”I’m as mad as hell and I’m not going to take it anymore” !

  19. There is an excellent Snopes article which addresses these issues. It is classified as “mostly false” in that the first quote is an accurate quote from Warren Buffett. The rest is not related to him in any way. Also, some of the issues addressed in the list are actually untrue (which I didn’t know until I reviewed the Snopes article and then researched.)

    http://www.snopes.com/politics/medical/28thamendment.asp

    Regardless, I still like the concept here… though it would be nearly impossible to get this type of amendment to pass….

  20. Wow- just wow. This is the first time in a LONG time that I couldn’t argue with something Buffet said. I bow to his bravery for saying what needed to be said. I’ve been telling my friends this same thing for years. *Salute*

  21. I think I would add one more thing. Make all of them live at poverty level working full time for a year. This will be enforced by a “parole” officer type of person. No “club fed” higher class prisons. Make them do this without medical care, and have them go to the office of economic security to apply for medicaid. Have them feed kids (2 that they “adopt” for the year) with food stamps and have to see the disappointment when the kids are hungry and they have nothing. They can only shop at second-hand stores. They have to walk, ride bikes or take public transportation most places. Gas is too expensive so they can only use a car when absolutely needed. Make them subsidize their diet with food they catch, grow or harvest with their own hard labor.

    See how they like that life. And they have to find and rent their own place, preferably one with rats or mice sharing the home with them.

    Bet they would just love it.

  22. This was a well crafted social engineering email that played toward the anger we all feel. However Warren Buffett does not support the email even though it did start with a quote from him.

    For details see http://www.andrewtobias.com/bkoldcolumns/111018.html

    This email smelled fishy but took me considerable effort to research as the usual sites snopes.com and others did not have it listed yet. It’s a tricky world out there, be careful about what you believe.

    Cheers,
    Tim Oey

  23. It’s time for the American people to have a say how OUR MONEY is spent. It’s time for the American people to stop getting screwed. It’s time.

  24. I agree 100% I think that this is one of the issues that the 99% should be focused on. Congress and Senate are the big problem. They are the ones that let Wall Street and the Lobbyists do what they do.

  25. I like the above, but is doesn’t fix elections. We’d still need electoral finance reform. We still need an amendment stating that no corporation has standing as a person. And no corporate “person” should be able to donate even one penny to any PAC or anyone running for office.

  26. What would it take to do this? Do you really think something that makes this much sense could be done by the end of the year. Tell me how I can help!

  27. Makes a whole lot of sense…..but the people who ought to be contacted are the
    members of Congress: So do mail to friends but also to your congressmen/
    congresswomen as part of a massive national e-mail campaign to put them on notice!

  28. Way to go Warren! If only our country’s leaders were as good at identifying a problem and coming up with a solution as you are we wouldn’t be in this mess

  29. I agree with this plan and I would vote for it or what ever I could do to help make it become a condition of our electoral system.

  30. I like what Waren suggests, the Congress should be brought back down to the status of “citizen legislators” so they know how the citizens of the US are feeling and influencing them to get off their asses and doing something about it now.

  31. I have been saying this for the past two years….vote them all out!!! It is not a permanent job and
    it should be a service to your country. They should get their retirement like the rest of us working stiffs. I own a small business and it is so hard to keep our heads above water these days!

  32. Uh, Warren Buffett didn’t say anything about this Congressional Reform Act of 2011–you spliced that piece of stale Internet fluff.

  33. It is often the simplest things that are most misunderstood! We needmore Warren Buffets. Not that he is a rich man, but he is a reasonable and thoughtful one.

  34. Lol, I believe if you could ever get this to pass, it would quite honestly make the crooks, err I mean politicians, less likely to seek Congress as a career! Come on folks, spread the word and let’s put the pressure on these idiots!

  35. Wonderful suggestion. If put into effect it would perfect the focus and direction of our Government. It is exactly what is essential to prescribe responsible service for the good of all.

  36. Outstanding! Our congress has begun to think of itself as the ruling class. Buffett’s proposal puts that outrageous concept to a quick end.

  37. I checked out a more lengthy version of the proposed amendment by doing an Internet search on it. May I suggest reading these two links which point out this proposed amendment is not from Mr. Buffett (as implied above) and that this suggestion has been circulating since at least January 2011. I may agree with some of the sentiments expressed, however I much prefer knowing the facts first. http://www.snopes.com/politics/medical/28thamendment.asp AND/OR http://www.factcheck.org/2011/03/congressional-reform-act/

  38. You go, Warren! Excellent suggestions, all of them. Accountability, what a concept!
    Definitely passing this on to everybody on my lists.

  39. This “defective” amendment has been widely circulated and is based on many false assumptions. May I suggest you research “congressional compensation”. You will find that much of this “Act” is faulty and irrelevant. Bear in mind my saying so in no way speaks to how I feel about Congress and legislation. But the amendment at hand is widely circulated and has been an internet regular for quite some time.

  40. And I thought he was a nut case. That’s the power of the media. This is a great idea!
    It won’t pass, but it’s a great idea. I’ll do what little I can do.
    The Congress are a bunch of cowardly wusses who will do anything at all to stay in the paradise they’ve created for themselves.

  41. I think this the most common sense approach I have seen yet to fix America. We have gone so far off track I thought there was no fix. But if congress had to live by the laws and rules they pass for us, it might give them pause. Love it. Sharing it. Hope it will become the centralized message for Occupy Wall Street.

  42. Awesome suggestions. I have always advocated the government officials pay, healthcare, benefits, etc. should be the average of all the people they represent. Today they have no skin in the game, and that’s one root problem.

  43. I firmly agree with Warren Buffett’s, Congressional Reform Act of 2011.
    1. No Tenure / No Pension.
    A Congressman collects a salary while in office and receives no pay when
    they are 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 are void effective
    1/1/12. The American people did not make this contract with Congressmen.
    Congressmen 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 you agree pass it on.

  44. Wonderful…. He sure knows what he’s talking about. These free-loaders in Washington are in Office for all the Wrong reasons…..to line their pockets with money & the could care less about The Average American! They SHOULDN’T get the benefits after they leave office either!!! R.W.

  45. I agree. I worked as an RN for my whole adult life. Without my own retirement plan, paid for with my own money and a loving husband’s money, I would be living on Social Security only. That $900 a month wouldn’t go very far, especially since I have to pay for Medicare and a supplemental health insurance out of that money. Live on that Congress.

  46. Once Again Warren Buffett shows why he is such a genius!!! Please read his simple plan on how to fix congress and pass it on to everyone you know to actually make a change to improve this country!!

  47. this is all really great stuff, but it’s doubtful that members of congress would actually vote for it, which they’d have to do, to pass it as a law or a constitutional amendment.

  48. I have nothing to add, only that I will pass it on as requested.
    Thanks Warren, and to those who passed this along.

  49. This is exactly what needs to be done & now! It’s a good start to a broken system that no longer represents or is even in touch with what the average American citizen is experiencing. Good for you Warren Buffet. You hit the nail on the head. Now the next order of business is to get our president elected by popular vote, not some bi-partisan representative that is wined & dined by their parties & do not have to vote the way they are sent to vote if they choose not to!!

  50. Mr Buffet,

    Your ideas would go a long way towards getting our Country moving, again, but I have to take exception with your 3% rule. To restrict the benefits of fiscal policy, in this way, might work against recovery.

  51. this gentleman many have a ton of money , but he also has HEART & a common sense approach that no one in government has any more ! I have worked my fanny off for almost 45 years now & my retirement plan is and always has been to die on the job. I was lucky enough to own my own business for 25 0f the 45 years and made it a point to share the profits with the people who helped me generate it. When it finally failed we all divided the goodies and went home – except I’m still paying the remaining bills. Only “WEE THE PEOPLE” can effect change- let’s change!!

  52. Simple! But he is right. That is why he makes the big buck. While we are at it; Change their health benefit to match the civil servants and they will get the picture.

  53. OF the people, BY the people, FOR the people. Excluding the lawmakers from public law? Insane! Time to shake it up folks because it’s obviously NOT working in it’s present condition.
    That is all. Carry on!

  54. I like this, however, until it is made an item on the ballot, it is just another dream. How can we get this onto the ballots?

  55. love this idea. also bring our military home and let the other countries fight their own battles. they start them, let them finish them. thank you

  56. I agree with Mr. Buffett 100%. I think there are more items that should be added, such as two-term limits, etc., but this is a great start and I support it.

  57. ..If congress can’t do their job, Fire them! Just like anyone else that can’t perform their work..If it gets any worse, The American People should overthrow the Govnerment! That is called Revolution! History repeats itself! As my Father always told me! And He was a Smart Man!

  58. How about an idea I posted to most congress members back in 1994, if any government agency is to get any increase in funding they must first show a plan that will reduce their expenses by 1% to 3%. This will help trim the pat or pork that government wastes.

  59. Wow! This is brilliant! …from someone who knows how to manage money with sound investments while others are floundering in the depressed economy.
    Rapid communication with cell phones and Facebook changed the Middle East in a few months!
    This is an Idea Whose Time Has Come!
    We Americans can Do This and have better control of the people WE put in Congress!

  60. Yes. Let’s get the elected leaders focusing on USA’s national prioties, coming up with creative and smart solutions and ininatives.

  61. I like the whole idea of this. Why should our lawmakers stand above the laws they require us to adhere to. Not sure how to change these things but I did notice an awful lot of change in Lybia lately…..Just Sayin`

  62. He’s right. Why should we pay any one in Congress who is not working. i have to work xxx amount of years to get a retirement check. Why should they get a free ride on our tax dollars…. Wake up people and lets take back our government.. They work for us….

  63. I used to think that we needed to have good pay and benefits to attract the best and brightest to serve in Congress…we tried that and look what we got! All Aboard the Warren Wagon!

  64. Only the right way to do things at this time,How much greedier can some people get!!!We work our BUTS off born and raised here to pay 1/3 or more taxes as a blue collar worker and look at the pickle we are in now!I really LOVE his optismism and agree.What are we But American citizens,whose Grandparents,and parents have fought and died for our country only to let lazy people rape our system????WRONG!!!!@

  65. I like the idea.

    Now…if Buffet wasn’t such an colossal hypocrite, I might even respect the source.

    If he had half the character he does business sense, his company would pay the over 1 billion dollars it owes in back taxes. But it’s cheaper to fight it out until the Feds settle. Meanwhile, he comes across as some kind of populist hero by saying that he and his cronies should pay more in taxes.

  66. sounds good Mr. Buffet but there are only 3 challenges with your 5-minute fix
    1. the people who elected the one (rep/dem) will replace them with the same type of people
    When you go to a restaurant any buy and item on the menu & don’t like it you get mad at the cook when you should get mad at the person who HIRED the cook, not the cook
    2. the reason WHY the GDP is so jacked up has nothing to do with the lawmakers but job holders
    When companies are given reasons and benefits to send jobs overseas where labor is lower they raise the price of the product produced and sell it to American’s who buy anyway instead of staying away. As an example.. GE took it’s clothing iron production to south america decades ago and there is very little about a Ford, GM or Chrysler car that is American, other than the names
    3. Nothing is as simple as it seems and your 5-min fix (with all your money) ignores this fact
    Shame on you for thinking that we don’t know any better

  67. This is what it should be about. The people in Washington are no better than anyone else. They need to remeber that we, the voters, put them there. It is a privilage, not an entitlement. They are all self centered egotistical brats. Pelosi, and Obama are perfect examples of that. Americans can hardly pay for their own yearly benefits, much less for Congresses LIFETIME BENEFITS.

  68. I agree, congress thinks their doing us a favor. Most of the time they haven’t any experience in running things they just know how to talk real good. Yet they haven’t invested anything or taken any real chances. I’m a small business man And I have 40 employee’s. The politicians don’t know how to manage money let alone people. Congress should get audited and be liable. also should have automatic jail sentence’s for any law breaking actions! Since time politicians have robbed the people and sk you think that’s the way it is but it doesn’t have to be this way we have the power in numbers.

  69. I agree with Mr. Buffett’s ideas for reforming national politics. There are too many elected officials living in a bubble who are totally deaf to the plight of the poor and middle class in this country.

  70. If this post is for real, it would resemble the kind of decision making that made Buffet his millions or I mean billions….btw Buffet pays more taxes than his secretary when he spends funds for gas and consumer goods and airfare (probably has his own jet though) or buys a new home. His comment was misleading but cannot figure out why – maybe her rate is higher for income since Buffet has none or nearly no ordinary income.

  71. If you were running for President, Mr Buffett, you would have my vote. This makes scense to me.
    I don’t understand why all the elected ones can’t see it either, oh never mind I know the answer.

  72. Fantastic, point 4 would also effect the members of the German Bundestag! I will pass this on in Germany, because the is need, too!

  73. I don’t think I’ve ever seen a posting that makes so much sense. We need to stop treating our congressman like they are God’s. They need to be accountable for what they have done and what they continue to do.

  74. outstanding ! lets get to the streets and demand this !…Well said Mr Buffett..Please run for congress…PRESIDENT !

  75. Some good ideas and if implemented would affect some change. Economic and political piracy have long since over-stepped ethical boundaries. A rethink on a global scale is needed and oddly enough that is exactly what is happening. Warren can’t save himself with such paltry measures. The bankers and economic gamblers will not survive; expect us; we are going to foreclose!

  76. Please check your sources. Warren Buffet never sent this around, and it’s full of errors. He said the one thing about “3% of GDP” and the “Congressional Reform Act” is based on misconceptions. Don’t believe everything that just comes to you from nowhere! Here is factcheck.org’s corrections of the myths embedded in this email, which again, has nothing to do with Warren Buffett. http://www.factcheck.org/2011/03/congressional-reform-act/ Or look it up yourself. I’ve also seen people passing around the idea that Congressional members get their full salary for life. LOL.

  77. Once the interest charged on the $14,875,436,683,045 national debt reaches 7.08%, it will equal the total US Income Tax revenue, $1,054,479,561,455. There is a simple solution to meeting the interest payments. The 240,000 top wage earners who earn over a million a year, could pay their fair share, an additional $4,393,665, each. http://www.usdebtclock.org/

  78. Thank you! This gives me something practical and positive to suggest to friends who are stuck in hopeless whining about the government.

  79. This idea of Mr. Buffet’s is the best to date I’ve ever heard. If only the flock of sheep that resides in the USA would only respond in kind. It would be the best thing that has happened to me in my lifetime. It may in time,or we’ll all be under a dictatorship. God Bless America.

  80. I agree 100% with this plan. Congress, and all the rest of our government for that matter. Especially BARAK HUSSEIN OBAMA need to understand that they work for us.

  81. So, if we got every American who votes to push this, do you really think Congress would pass it? Come on Warren, they are the very ones who stole our social security, make the laws, amend good ones and do what the puppet masters, (the Bilderberg Group – aren’t you a member?), demand they do. It is a great idea but one you, especially you, know can never happen with the government structure the way it is. And what about the federal reserve? Who’s waggin’ who’s tale?

  82. This is the best idea of best ideas. Why have we not heard of any of this on the news or seen it in the papers. This is something that should be in the news every day all day. You know about the squeeky wheel. I have forwarded this post over & over and will continue to do so. Thank you for this post.

  83. Warren, why dont you run for president ???? you could amend anything then and you have the cash to run for the seat ! Is there something your not telling us Warren. I have taken your advice and started some deep deep reading also the study of economics is helping me see the world for what it is.We have lost our way ! to much enphasis on money and not enough on helping each other or even loving each other ! we would walk over each other to get to work ! for what ? a giant hole in the one world economy mmmmm kinda strange dont ya think Warren !! I am a fairly young man, forty six actually and now I look at you and I see you are getting up there ! I think that when you get to the senior level in life you might begin to see that it cannot be about money it has to be about something else as life passes and then there is emptyness so my point is what have I done in life or what did I do with the life changing expierences that I have expierenced. I often wonder why you had a slot machine in you house ? is it the gamble ! I would’nt think so ! act5ually I think you were training you kids ! nice move ! read this and think about acting on it. Help your fellow countrymen or fellow citizens get out of the mess they are in because they are in a mess and you can do it they will listen to you ! good luck Mr b ” Mr B for President !!!

  84. This is great!!!! I have been saying it for years, but how do we, the people, make it happen if we have to go through politicians to get an Amendment passed???? Surely they will not vote to lose the lifestyle and wealth provided by the American people. How do we get this done???

  85. Most of these points are already in place, or just plain false.

    For the record:
    1. Congress receives no pay when they leave office, whether after one term or 20.
    2. All members of Congress do pay into SS and are subject to the same benefits and limitations as are most citizens.
    3. Congress does pay for it’s own retirement, similar to a 401k. Janitors at the IRS get the same plan members of Congress do. We can debate if there should be an “employer” match of 2% (or whatever low amount it is), but their retirement is subject to the same investment risks as are ours.
    4. Congress cannot vote themselves a raise.
    5. What is the “same plan as the American people.” There is no universal plan. However, the plan the members have, while good, is not obscene. It is the same exact plan all federal employees have.
    6. The only laws Congress do not need to abides are few and far between. Mostly having to do with things that their own rules impose stricter restrictions upon them. They are not really “exempt” from laws.
    7. There are no “contracts with past congressman” to be voided.

  86. “it’s a big club, and you ain’t in it” (george carlin)
    stop dreaming
    when Buffet and Gates join in on a “popular” movement, it’s way past time to wake up and smell the coffee.
    these guys OWN you.
    they’re not the 1%, they’re the one per one million.
    always always ask yourself what it is you’re NOT being told.

  87. Some that are really good, are sooo simple… “the only!! thing.. in this country.. “TOO BIG TO FAIL” Is WE,.. the 99%ers.. when we wake-up .. shake-off the apathy.. Do somthing. to fix this… “we”, after all, are the only ones that can..

  88. This is the right idea! I would like to add another one…Increase the number of congressman! Yes, more of them. And here is why.
    1. Instead of representing more than 1/2 a million citizens a congressman should represent tens of thousands. Our voices will be heard..and it will help 3rd parties get started.
    2. the power of each congressman will diminish so they will no longer be “gods” but representatives
    3. Lobbyist will have a much harder time to control thousands of congressman versus the 435 they control now
    4. the number of 435 was SET BY CONGRESS to keep the club small. The founding fathers had in mind a representative for every 30,000 citizens or so.

    Lets make it happen!

  89. This would be a wonderful thing if it wew only possible. I agree with it 100% and have for sometime and for me to agree with Warren Buffet is extremely rare after all is a big supporter of Obama. I also believe that before this happens “they” will pass another law to protect their lifestyle and of course it will be at our expense. They are almost untouchable.

  90. If we all are in this together, the government should be too. They make laws that are in their favor financially, but making everyone else pay. I strong agree with Warren Buffett.. They should pay into social security and buy their own retirement plans like the rest of us.

  91. This is all well and good except for 1 thing. This bill would have to go through congress before its passed. Do we really expect congress, who have never missed a chance to give themselves a pay raise, to pass a bill limiting their power?

  92. Warren Buffett should run for President, he could win very “BIG”. When was the last time we had a canadit we should respect or had confidence in. People of Buffett’s calaber just don’t want to bring themselves down to the level of “Bull Shit” we have found our government in.

  93. I’m sorry to have to convey this, but Snopes.com says that Warren Buffet never did send this out or ask people to forward it. Check it out yourself at Snopes.com under Warren Buffet and Congress.

  94. Since Warren Buffet had nothing to do with this so-called “Congressional Reform Act of 2011” I consider it irresponsible for anyone to post it as if he had. Those who spread such lies, whether they know they are lies or they just don’t bother to check, are almost as hard to trust as those who created the lies in the first place.

  95. Has this [{Congressional Reform Act 2011}] yet been verified in every detail as actually having been promulgated by the actual Warren Buffet – not just a member of the red-hot Tea-party playing at being controversial Warren Buffet in a federal election year?

  96. I am always suspicious of people who say they can fix our political and economic systems in one easy stroke, especially billionaires. While I’m a kindred spirit with regard to the pimps, whores and gamblers that currently run things in America, Warren’s panecea seems a little short on details. I like what he said in the past about everyone sharing the pain, especially them that have fleeced us suckers (and muppets) since the massive deregulation of Wall Street and the banks. But I don’t know if more elections will solve our ecomomic crises or reform our compromised policial system. The question still remains: over whose dead body does the budget get balanced? I fear the answer will be the same even if we call for elections based on the deficit/GDP ratio. More elections, more lobbyists, more big money buying more whores ( more susceptable to bribes now because their benefits have been cut.) Result: more little guys getting screwed. Deja vu all over again. We need to start sending a real message. Keep the big money, a lot of the guys Warren runs with, the fuck off of capital hill. We missed a golden opportunity in 2008 by failing to mete out justice to the banking and investment executives who comitted grand larceny on the American people. Nothing will change until we pass adequate laws that regulate the activity of our legislature, banks and investment houses, and adequate enforcement of those laws. These are hard times. Financial fraudsters, and corrupt politicians need to do hard time. Some form of term limits on Congress and the Senate might also clean things up a bit, and election campaign finance reform now, now, now. like I mean draconian reform, man.

  97. Everyone who understands Buffeft’s message should send a copy of Warren Buffett’s 5 Minute Fix to their respective Congressman and Senator…. that’s why THE RAT’S ARE ABANDONING SHIP and we need to let them know we support Warren Buffeft’s solution.

  98. Warren Buffett should be embarassed if he indeed came up with this plan for several reasons: 1) Congress does participate in Social Security. It has been so since the mid-eighties. 2)Members of Congress participate in the Federal Employee Healthcare and Pension plans. The same premiums, copay and deductibles apply as with Federal employees. 3) Congressional raises take place automatically each year unless Congress votes affirmatively to decline the raise. The raise is in fact indexed to CPI.

    Is Congress overcompensated? I’m not making any conclusions. But this Congressional Reform Act of 2011 is not based on fact. A sound argument must be based on fact. I find it suspicious that Warren Buffett would not check his facts before addressing these issues. One can easily review Congressional pay and benefits on the internet by looking at the pay and benefits of Congressional personnel.

  99. They also shouldn’t get retirement until thet have served atleast twenty years like the military that defends this country.!!!!!!

  100. Its like you read my mind! You appear to know so much approximately this, like you wrote the e book in it or something. I think that you just can do with a few percent to force the message house a little bit, however instead of that, that is fantastic blog. An excellent read. I’ll definitely be back.

  101. Loves that metaphore Republicans=Rats! We need to change the way we do things… it is taking way to long to solve problems!

  102. Buffet encouraged Obummer’s war on the wealthy with his remarks about his secretary’s taxes. That ruined it for small businesses. Buffet is now offering way too little and now it’s too late. We now have four more years of an administration that follows no laws. What makes him think that they would vote for these laws and then enforce them? He must be getting senile!
    Maybe his next lunch at the Whitehouse he and Barry can sit and laugh about all the debt…they have no worries….we are the ones to carry the burden and will have to suffer with this mess.

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