How would Warren Buffet fix the deficit problem?

Warren Buffet, a famous investor and businessman, has a great idea to solve the deficit problem – punish the Congressmen that created it. He suggests passing a constitutional amendment making the members of the Congress during the time of deficit of more than 3% ineligible for reelection. And we know that that would hit them where it hurts. Way to go Warren. And, all that is actually true, I didn’t make it up! However, as you can read in the article, the additional “chain email” attributed to Buffet re the “Congressional Reform Act of 2011” has actually got nothing to do with Buffet. Still, not such a bad idea.

That makes perfect sense, we all know that the thing the elected officials want the most is to continue being elected officials. So why not?

Warren has some more suggestions:

Warren Buffet is actually all in favor of taxing the top 1% of the rich, one of whom he is himself. You can read about it here. And he’s not alone who is willing to be taxed more so that the rest of us would be taxed less. Obama is there, of course, but who else? President Bill Clinton, the comedian Jon Stewart is definitely there, and he’s been hammering the ultra right on that issue even when they came as the guests of his show (check out the O’Reilly interview, very educating), and even the majority of the Republican Americans agree with the idea.

So Buffet has proven to have very good senses when it comes to investments and economics, and I think he’s right again. Something to think about as we’re getting closer to the election year.

Your Little Advisor

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