This is incorrectly attributed to Warren Buffet. Regardless of who came up with it, it’s still a good idea:

• No Tenure / No Pension. A Congressman collects a salary while in office and receives no pay when they are out of office.
• 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.
• Congress can purchase their own retirement plan, just as all Americans do.
• Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%.
• Congress loses their current health care system and participates in the same health care system as the American people.
• Congress must equally abide by all laws they impose on the American people.
• 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 term’s), then go home and back to work.

In other words, Members of Congress must live in the same country the rest of us live in, and must experience the country that exists because of the laws they write and the policies they enact.

This makes a lot of sense to me.