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Warren on how to end the deficit in 5 minutes

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posted on Oct, 21 2011 @ 08:25 AM
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Warren Buffett,
"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.

[Snipped Recruitment Content]

*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.

[snipped recruting content]

MOD NOTE--ATS & Activism
edit on 10/21/2011 by tothetenthpower because: (no reason given)



posted on Oct, 21 2011 @ 08:27 AM
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What now, the fat rat Warren Buffet is now running the nation? I forgot he does runs the nation at least his funding to the whores in congress does.

Is interesting that he is been more vocal into our politics than every before when all he did was into making money thanks to the policies that his money could buy.

I wonder what he got under his sleeves.



posted on Oct, 21 2011 @ 08:34 AM
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reply to post by marg6043
 


because if the house of cards falls, he stands to lose a great deal. He does have a vested interest in how things are run. He doesn't need any hidden agenda. I think he is seeing the writing on the wall with BoA and the 5th of November movement. If BoA goes down, he loses a lot of money. He is practicing self preservation.



posted on Oct, 21 2011 @ 08:37 AM
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Warren is being pretty shrewd on this. The majority of congressman are on some lobbyists payroll. So he figures they are still making a pretty penny even without the help of American tax payers. And as such, we should limit what they get from us, since they are getting more from dirty deals that don't represent us anyway.



posted on Oct, 21 2011 @ 08:37 AM
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I do not understand Warran Buffett or anything he does...

His plan sounds great, almost everything he says sounds great, he tells it exactly like it is, he has said that he pays less taxes then poor people do but is one of the richest people in the world and that he should be paying more taxes....

It seems everything I read that he says is good... but why does he not do anything to change anything for the better...

If he can fix this in 5 minutes which he could I am sure if he really wanted to... why doesn't he?

The plan would solve many issues though... congress was not meant to be a career to get rich from its for you to serve the people and their wants.



posted on Oct, 21 2011 @ 08:39 AM
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Originally posted by marg6043
What now, the fat rat Warren Buffet is now running the nation? I forgot he does runs the nation at least his funding to the whores in congress does.

Is interesting that he is been more vocal into our politics than every before when all he did was into making money thanks to the policies that his money could buy.

I wonder what he got under his sleeves.


umad bruh?



posted on Oct, 21 2011 @ 08:43 AM
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Originally posted by dc4lifeskater

If he can fix this in 5 minutes which he could I am sure if he really wanted to... why doesn't he?


bro seriously?

Does warren look like a congressman to you? even if he was you still need the support of house and senate and president to pass an amendment, he didn't LITERALLY MEAN HE COULD FIX THIS IN 5 MINUTES BRO, he just laid out a plan that could be THEORETICALLY PASSED IN 5 MINUTES.



posted on Oct, 21 2011 @ 08:47 AM
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Warren Buffett should be smart enough to understand that what he is asking for is fiscally impossible.

The government takes in $2.2 trillion in tax revenue a year. JUST the unfunded liabilities for 3programs, social security, medicaid, and prescription drug are $116 trillion. Then add the us total debt of $54.5 trillion to that as well as the $3.6 trillion interest on that debt....

I figured Buffett would be capable of basic math. It's an impossibility.
edit on 21-10-2011 by METACOMET because: s



posted on Oct, 21 2011 @ 08:48 AM
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This just looks like one of those chain letters that everyone gets. I am surprised it didn't say at the end that if you dont repostt it within the next hour gremlins will come and eat your babies.



posted on Oct, 21 2011 @ 08:50 AM
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that guy just laid out a suggestion why you nubs going down on em
like some wild sharks, ffs.



posted on Oct, 21 2011 @ 08:53 AM
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What is the matter with you people? I read constantly about offered solutions to our problems and most people just shoot them down, or belittle someone who supports it. Are you that entrenched with your government that you are seriously not willing to entertain an alternative to the status quot? My god people, if you want change, THEN CHANGE IT!!! Stop fighting about the little stuff and look at the big picture!



posted on Oct, 21 2011 @ 09:00 AM
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Originally posted by dc4lifeskater
I do not understand Warran Buffett or anything he does...

His plan sounds great, almost everything he says sounds great, he tells it exactly like it is, he has said that he pays less taxes then poor people do but is one of the richest people in the world and that he should be paying more taxes....

It seems everything I read that he says is good... but why does he not do anything to change anything for the better...

If he can fix this in 5 minutes which he could I am sure if he really wanted to... why doesn't he?

The plan would solve many issues though... congress was not meant to be a career to get rich from its for you to serve the people and their wants.


Well, you see, changes do not fall on our government. This is exactly the kind of mentality that put us in this mess, and others for that matter. Expecting Warren to just change stuff for the better is like asking the CEOs to make less money. Even if they think it's for the betterment of the country, it falls on us, the people. We decide what happens in our country, not them. We decide by voting. We've allowed numerous bills and orders to go into effect giving the government more and more power to make decisions without the people's approval because we don't want to be bothered with it or we don't think we can change it.

It's not up to Warren, Congress, the President, or any other member of the government to improve this country, it's up to us. We were given the power to vote in new politicians, we have the power to make demands. Stop expecting them to do it for you.

Warren does indeed, as well as many other members of the government, have a vested interest in keeping us going and keeping the people happy. Know why? Because there's a couple hundred million of us, and only a few hundred of them. We decide and it's time to take that responsibility seriously.

ETA: I agree with the post above. It's a good suggestion. There's no reason against demanding -something-. With current technology, you can spend 10 minutes sending these e-mails and call it a day. If 100 million people did it, that's a lot of pressure. Are you all really so dense as to believe someone besides YOU can, should, or WILL change anything for the better? Stop expecting everyone else to do it for you and get to work. I'm mildly disgusted by this mentality here on ATS.
edit on 21-10-2011 by Heehaw because: (no reason given)



posted on Oct, 21 2011 @ 09:03 AM
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reply to post by haarvik
 


He has taken money from tax payer also during the last 2008 market crash, one of his investments ventures were on trouble and he got a bailout for that.

Also he has invested a lot of money on the markets when they are having trouble with the too big to fail, so actually he have investments all over.

I wonder if he is getting scare that the financial situation of the nation right now that is actually unsustainable will put a substantial dent on this wealth and that is why he is trying to bring a message to Washington.

But remember people that this man is one of the most influential men in this nation and his money runs deep in Washington.



posted on Oct, 21 2011 @ 09:06 AM
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reply to post by haarvik
 


Buffet has the right idea and looking at the solution to the problem by addressing the fundamentals.

Its called accountability which the congress have absolutely no concept of.

Once they're elected, it's selling out to the highest lobbyist bidder.....and feet up on the desk....or playing solitaire on the computer.

If they actually did their job instead of pandering to their favorite lobbyist then we wouldn't be in this mess we are in.





posted on Oct, 21 2011 @ 09:10 AM
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I could abolish the Deficeit and turn a profit within a yesr - IT IS SO SIMPLE AND NOBODY HAS EVEN MENTIONED IT

Here ya Go - The Federal Government leases Federal Land to mining companies - they Extract precious minerals etc... process them and sell them ... the cost to them for the land - just a monthly payment with no "Cut" and no profit going to the taxpayers - so all the gold silver platinum etc... is being taken from OUR land and we get NADA for it....... Make some noise we are getting raped !



posted on Oct, 21 2011 @ 09:11 AM
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Originally posted by marg6043
What now, the fat rat Warren Buffet is now running the nation? I forgot he does runs the nation at least his funding to the whores in congress does.

Is interesting that he is been more vocal into our politics than every before when all he did was into making money thanks to the policies that his money could buy.

I wonder what he got under his sleeves.


Fat cat? the guy lives in a modest 4 bedroom home ...been there for decades... and is one of the wealthiest people on the planet.
How many people worth tens of billions of dollars would even consider doing that?

Warren saw the financial issues and moved his money away from the USD many years ago.
We should all listen to Warren Buffet.



posted on Oct, 21 2011 @ 09:20 AM
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Gee... did anyone even bother to question the authenticity of this alleged source?

www.snopes.com...

I didn't think so.



posted on Oct, 21 2011 @ 09:21 AM
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Originally posted by BadNinja68

Originally posted by marg6043
What now, the fat rat Warren Buffet is now running the nation? I forgot he does runs the nation at least his funding to the whores in congress does.

Is interesting that he is been more vocal into our politics than every before when all he did was into making money thanks to the policies that his money could buy.

I wonder what he got under his sleeves.


Fat cat? the guy lives in a modest 4 bedroom home ...been there for decades... and is one of the wealthiest people on the planet.
How many people worth tens of billions of dollars would even consider doing that?

Warren saw the financial issues and moved his money away from the USD many years ago.
We should all listen to Warren Buffet.


But under that home is a $400mil fallout bunker bigger then the white house! or atleast thats how my house would be if I was as rich as him


He makes valid points about allot of things maybe he should run for president... maybe now that he has made so much money it doesn't matter he wants to help the american people rather then screw them over?



posted on Oct, 21 2011 @ 09:54 AM
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reply to post by BadNinja68
 


You do know that Buffet made a great deal of his money doing the exact same thing that is going on now right?

He just got out before SHTF. Does that make him a saint all of a sudden?

Warren Buffet is interested in protecting one person...Warren Buffet.

He is just smart enough to realize that if the US economy tanks there will be a domino effect and he will eventually lose all of his money. He would rather that the US wealthy take the hit so that his INTERNATIONAL (the bulk of his investments) investments don't have to.



posted on Oct, 21 2011 @ 09:55 AM
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The problem with this plan is the congress was elected in so they should not be removed by law. Instead, how about, if deficit grows more than 3% or whatever, all members of the IRS, FBI, CIA, Homeland Security, get fired! oh and the fed.
edit on 21-10-2011 by filosophia because: (no reason given)




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