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Warren Buffett pledges 15pc of income to US


TheBrown57

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if 10pc of Congress does too

http://www.telegraph.co.uk/finance/economics/9034015/Warren-Buffett-pledges-15pc-of-income-to-US-if-10pc-of-Congress-does-too.html

Mr Buffett said people who are making millions of dollars should be moved up to the "mid 30s" in terms of the percentage of their income they pay in tax, as most Americans do.
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I think what the problem is that no one feels they need to sacrifice to get the job done. Kinda like the war effort in the early 40's but a war on the country's debt. Our counrty sucked it up for 5 or so years during the war to do what was best for the counrty. Here are a couple ideas:

-If you are unemployed you are now an employee of the sate to do infrastrucure work or whatever for your check. Untill you get a job.

-If you have a job pay and extra percent to payoff the national debt.

-Gov't to actually tighten its belt and cut frivolous crap

Those are just a few ideas good or bad. Whether they would work or not who knows. Just an idea. Yeah it might suck for the time being but in the end we could put the whole debt deal behind us. You keep hearing we are "Giving this debt to our grandchildren" blah, blah, blah. I would assume that by the time my 2yr. old has children we could achieve this goal. Its been a pretty hot topic for what about 5yrs. now? So say Obama is out and Mitt for example is in next term. Do you think in four years he can get the slate clean? I dont think so. Or anyone for that matter. Now we are 9 or so years into dealing with this an the same problem is there. The people boot that president out and maybe it goes back to a Democrat. So now the pendulum continues to swing and nothing ever gets solved.

I think its time just for the counrty as a whole to roll up there sleeves and actually pour 100% of our resources into the problem.

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But in my macroeconomic class ....

You a classic Keynesian, Follower of Friedman, or more of a New Classical kinda guy?

(former gf was/is Ph.D. in econ, so had to listen to lots of blathering in order to play with the d cups...)

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Warren Buffet - "I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3 percent of GDP all sitting members of Congress are ineligible for reelection."

I agree. In addition, let's get rid of anyone who is slimy enough to want to be a career politician by enacting term limits of 8-12 years on Congress. There are too many long timers in Washington who are more concerned with increasing their net worth than making things better for Americans.

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Warren Buffet - "I could end the deficit in 5 minutes. You just pass a law that says that anytime there is a deficit of more than 3 percent of GDP all sitting members of Congress are ineligible for reelection."

I agree. In addition, let's get rid of anyone who is slimy enough to want to be a career politician by enacting term limits of 8-12 years on Congress. There are too many long timers in Washington who are more concerned with increasing their net worth than making things better for Americans.

Agreed!

I also like Buffet's courage to take such an unpopular stand.

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