Warren Buffet's Brilliant Idea To Solve The U S Debt In Just Five Minutes

July 25, 2024 1:46pm CST
Warren Buffets says he has a plan to solve the deficit problem in 5 minutes. When the debt reaches more than 3 percent of GDP all members of Congress will become ineligible to seek re-election. I was thinking something similar to cutting spending, a 2 percent tax increase on the wealthy, even a government lottery. Putting out a few red cans around town to make donations would certainly help. But Warren's idea might just work.
6 people like this
4 responses
Kimberley
@mom210 (9118)
• United States
25 Jul
maybe they could just stop spending like drunk sailors. I have to balance my budget, never understood why they can't.
3 people like this
Jim Bauer
@porwest (87794)
• United States
26 Jul
Because they don't have to. They can just print more money or raise your taxes. It's EASY to spend money when it's not yours and there are no personal consequences.
1 person likes this
Kimberley
@mom210 (9118)
• United States
26 Jul
@porwest you are so right and it makes me so mad. For years, I've said, man if I could get a look at their so called budget, bet I could fix it.
1 person likes this
Jim Bauer
@porwest (87794)
• United States
26 Jul
@mom210 I think most people could. It would just take a little bit of common sense. Something badly lacking in Washington unfortunately.
3 people like this
Jim Bauer
@porwest (87794)
• United States
26 Jul
As is the case with most financial woes, it's never a revenue problem. It's a SPENDING problem. A plan like this might be a real strong incentive to watch the books a bit closer.
2 people like this
Jimmy Dozier
@JimmyDeen (252)
•
31 Jul
Yes, a very strong incentive.
1 person likes this
Jo Ann
@akalinus (42874)
• United States
27 Jul
If they are forced to control spending, they will take it from the poor and disabled. They never cut anything from the top, they just give themselves a raise anytime they feel like it.
1 person likes this
Jo Ann
@akalinus (42874)
• United States
1 Aug
@JimmyDeen I just read that one state cut off newborn babies and their mothers from any programs.
1 person likes this
Jimmy Dozier
@JimmyDeen (252)
•
2 Aug
@akalinus that's in sharp contrast to some states giving basic incomes to new mothers. Read a few states turned down the free summer lunch program for kids.
Jimmy Dozier
@JimmyDeen (252)
•
31 Jul
Yes, seems that's always the first to go.
1 person likes this
Manuela Lopes
@nela13 (58043)
• Portugal
26 Jul
It is not a bad idea, if members of Congress want to be elected again they should do everything they can to solve the deficit.
1 person likes this
Manuela Lopes
@nela13 (58043)
• Portugal
6 Aug
@JimmyDeen Probably you would.
Jimmy Dozier
@JimmyDeen (252)
•
31 Jul
We would probably see some good results
1 person likes this