Warren Buffet says balance the budget in "5 minutes..."

Discussion in 'Politics, Religion, Social Issues' started by thewitt, Nov 21, 2012.

  1. thewitt macrumors 68020

    thewitt

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    #1
  2. leenak macrumors 68020

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    #2
  3. balamw Moderator

    balamw

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    #3
    Old and incorrect news, your link is over a year old and this one disputes it's veracity.

    OCT. 28, 2011
    http://www.kmtv.com/news/local/132822733.html

    B
     
  4. CorvusCamenarum macrumors 65816

    CorvusCamenarum

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    #4
    Is he going to start with paying the billion or so he owes in back taxes? If not, he needs to shut his mouth.
     
  5. Iscariot macrumors 68030

    Iscariot

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    #5
    That article shows an immense fallacy in American voters' political thinking that holds back real change; a strong push for balanced budgets and spending cuts, with a strong distaste for raising taxes or actually cutting spending. As long as a politician makes vague references to "cuts" or "waste," without having the audacity to actually propose real cuts, they're electable. Mention cutting funding for anything other than foreign aid, though, and you're busted.
     
  6. Eraserhead macrumors G4

    Eraserhead

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    #6
    Sounds like a recipe for even more useless people than you currently have in congress.

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    Unless Buffet has been convicted of tax evasion he doesn't owe any back taxes.
     
  7. iJohnHenry macrumors P6

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    Well sure, it's easy when guys with big money write the 'rules'. :p
     
  8. NickZac macrumors 68000

    NickZac

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    We have to stop spending money we don't have. It is unsustainable. We need to use our resources more wisely, and we need to be more frugal as I personally like to keep some of the money I make. But if we are serious about the feds actually getting a balanced budget, we need to abandon current budgeting practices. Line-item budgeting and PPBS have clearly failed, yet we cling to these older means.

    Term limits are long overdue...there are so many 'living legends' who are completely useless but people vote for them because they see the name. We have a ton here in Maryland. I sometimes wonder if they have died and people just run the name knowing everyone will vote for them.

    I've also wondered if enacting performance measures for elected officials may have some value.
     
  9. mrkramer macrumors 603

    mrkramer

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    Term limits don't work, we have them for the legislature in California. All that happens is the people who know what their doing leave because they are termed out and someone who doesn't have experience with getting things done replaces them. And it still doesn't weed out people with crazy policies, each district will still end up electing similar politicians.
     
  10. NickZac macrumors 68000

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    Then what do we do? From what I have seen, most of the 30-40 year+ people in elected positions are usually not very productive, at least in public eye. These people have had decades to work with the US' debt and need for a balanced budget and done little to nothing. At the same time, they've managed to spend monumental fortunes but still neglect things like bridges and dams, which are in a state of disarray.
     
  11. thewitt thread starter macrumors 68020

    thewitt

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    #11
    Congress was never meant to be a career.

    It's a fallacy that term limits result in people who are not qualified being elected.
     
  12. NickZac macrumors 68000

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    I think in some ways, many people who have been in congress for a period of decades STILL aren't qualified and their 'superstar' name can prevent other people with fresh ideas from being elected. I mean, look at the national debt. That doesn't reflect fiscal responsibility! At least where I am at, I've seen the better candidate not get elected because the other guy has been there since before time was recorded.
     
  13. skottichan macrumors 6502a

    skottichan

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    #13
    Term limits seem inherently un-American. It's taking away my right as a citizen to vote for whom I want. Our founding fathers, who were escaping monarchy and the like, still left the decision of representation, to the people. Were there term limits on the national level, when Washington ran the country, or Lincoln, or Teddy? No, it wasn't until FDR, who terrified his opponents, did we start losing our rights to elect whom we want as president.

    Also, this talking point about how "politics/congress/Presidentsy was never meant to be a career", yeah that's ********. It's always been a career option as far back as the beginning. After a cursory search, I find it amusing that vast majority of the longest serving Representatives and Senators... come from conservative districts and states. Smells kind of ironic, but what do I know, I'm not Alanis Morrisette.
     
  14. CorvusCamenarum macrumors 65816

    CorvusCamenarum

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    #14
    He's (via Berkshire Hathaway) been going rounds with the IRS for 10 years over it. It's highly questionable that he goes around making headlines claiming he doesn't pay enough in taxes while 1) refusing to settle his own tax bill first and/or 2) putting his money where his yapper is and cut a check to the US Treasury for what he feels his share should be.

    So yeah, he needs to put up or shut up.
     
  15. NickZac macrumors 68000

    NickZac

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    Real spending cuts wont happen until the line-item budget is abandoned and the DOD fully abandons PPBS.
     
  16. MorphingDragon macrumors 603

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    #16
    Present the logical inconsistency that makes it a fallacy.
     
  17. eric/ Guest

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    #17
    I'm in favor of congressional term limits and congress having to participate in government programs "social security" etc... Like everybody else.

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    It's kind of obvious isn't it?(hint, association) If you disagree, I'd love to see the logic saying that qualified people (whoever they are) wouldn't become members of congress. Furthermore why do we need people specially qualified to serve in such positions.
     
  18. MorphingDragon, Nov 23, 2012
    Last edited: Nov 23, 2012

    MorphingDragon macrumors 603

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    #18
    I actually ask that because this particular user has a habit of rolling his head on a keyboard until a completely formed sentence appears. Needs some meat, some foie gras pâté to this nibble dish. Nothing really worth getting the fancy cheeses out on some lovely whole grain le biscuit salé.

    I would say that people qualified are interested in making a career out of politics if they got their degree in politics. Having a term limit kind of throws a wrench into that doesn't it?

    EDIT: Oh ****, made a reference to Europe, must be a socialist.
     
  19. Dmunjal macrumors 65816

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    There's only one way to a balanced budget. Remove the Federal Reserve and their blank check that called QE. Congress would have to enact radical spending cuts and tax increases but it would do the job. Blunt but effective. Every other idea only works around the edge of the problem.
     
  20. NickZac macrumors 68000

    NickZac

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    A distinction between "the bureaucracy" and "politics" needs to be emphasized. The bureaucracy are composed of the career government workers, usually high-level administrators, who have spent years, decades even, schooling and training for their position. This ranges from military commanders to healthcare officials to emergency response planners to advanced logistics managers to overseers of food/drug production and more. They are truly merit-based and you get there only with your performance.

    As far as politics go, anyone can be elected, there is no merit-base, and the only form of performance assessment is done at elections, often by voters who are arguably unqualified to make this assessment. Politicians make the laws but the bureaucracy is what interprets and implements these laws. This is part of the check and balance system because there are many politicians who do not understand the bureaucracy, how government works, and the implications of their laws and mandates. If you had these politicians interpret and implement, it would be chaos to the tenth power. Conversely, bureaucrats never create because that would be inherently undemocratic.

    This system is largely from the Madisonian school of thought and I would argue that one cannot effectively run government until they understand this system, which I doubt Warren Buffet does. A private sector administrator does not necessarily make a good public administrator or politician, yet this is a common argument you hear today.
     
  21. Huntn macrumors G5

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    #21
  22. iJohnHenry macrumors P6

    iJohnHenry

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    #22
    Maybe a military junta is the way to go, but without the dictatorship part?

    You have to be a one star general, or equivalent, to stand for Federal office.






    :rolleyes:
     
  23. Rodimus Prime macrumors G4

    Rodimus Prime

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    #23
    Chances are you will be waiting a long times. The right seems to have issues when confronted with basic facts.
     
  24. Huntn macrumors G5

    Huntn

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    On some level, the idea of a benevolent dictatorship is starting to look good as long as they are liberal. I'm sure the conservatives in the forum are saying the same thing as long as the L word is replaced with the C word. ;)
     
  25. iJohnHenry macrumors P6

    iJohnHenry

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    #25
    Then it would be left up to the Electorate, as now.

    At least whomever is elected will have the credentials for the task at hand.
     

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