Warren Buffett Act

Another one makes the rounds...What's real, and what isn't? Some of the below is true, and some isn't. Can you tell which is which? Ah, the bane of the internet.

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."

If you forwarded this message to 20 people in your address list, 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 terms, 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.

Snopes.com says that only the first quote is really from Warren Buffett, the one about ending the deficit in 5 minutes. Go here. The rest is falsely attributed to Buffett. It's mostly a rehash of the "Congressional Reform Act of 2009." I agree with items 1-6. Not sure what #7 even means. It's quite amazing all of the garbage that floats around on the internet. Maybe I should go onto change.org and create a new petition. Or maybe you should.