Warren Buffett for president?
Alan May of the great state of Illinois posted a brilliant blog! I wanted to share it with you, as it is intelligent, common sense and helps make sure our country's governmental leaders have some skin in the game BESIDES being re-elected.
Of course, as one commenter already pointed out - TERM LIMITS are required.
Enjoy!
There's an e-mail that's been running viral on the internet, popping in and out of virtual mailboxes across the country. It's been attributed to Warren Buffett, so I checked on Snopes.com, and sure enough it actually was something that Warren Buffett said in July in an interview with Becky Quick of CNBC. The gist of his comments follow, along with some of my own personal commentary. Why do I get to post any of my own comments alongside Warren's?? Cause it's my blog, that's why!
"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.
I love this. What more incentive could we give Congress to make sure the deficit is kept to a minimum or eradicated? He quickly followed up with his idea of the Congressional Reform Act of 2011, as follows:
1. No Tenure / No Pension. A Congressman collects a salary while in office and receives no pay when they are out of office.
No kidding! Just like the bulk of the working class in the United States. You work, you get paid. You don't work, you don't get paid!
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.
I've always felt that they should partake in the same system. There's no better way to safeguard it's care, than force them to participate.
3. Congress can purchase their own retirement plan, just as all Americans do.
Huzzah!
4. Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%.
Personally, I don't think this one goes far enough. Why should they be in charge of their own raises? And who says that a "raise" is a given? Should a raise be earned??
5. Congress loses their current health care system and participates in the same health care system as the American people.
They should totally have to participate in the same health care system. If they had any idea how expensive health care was, or how complicated it is, it would be cheaper and inexpensive in a nanosecond.
6. Congress must equally abide by all laws they impose on the American people.
This one seems like common sense. They should have to live by all the same laws they created... and yet common sense, appears to be lacking in our public officials (all of them, red or blue).
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.
Serving in the Congress is an honour, not a career. Exactly.
Warren Buffett for president! He's got my vote.
ALAN MAY, Realtor®
Specializing in Evanston Real Estate and North Shore Real Estate
Coldwell Banker Residential Real Estate, 2929 Central Street, Evanston, IL 60201
847.425.3779 Cell: 847.924.3313 Email: Almay@aol.com
Evanston Real Estate & North Shore Real Estate
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