... empower former presidents and vice presidents of both parties ...
Most of the time there would be some 6-10 formers alive and mentally capable (putting it very kindly, where Carter and AlGore are concerned). And as Carter, Clinton, and AlGore illustrate, some are highly partisan and being ethically challenged would be an improvement. As the US Supreme Court has illustrated through the past couple of centuries that is wa-a-a-a-ayyyyy to much power to be concentrated in a very few decent people, let alone unethical and hyper-partisan people like Carter, Clinton, and AlGore.
So, even ignoring the grossly obvious,
"We lost so we want to change the rules," aspect of this, common sense says this proposal deserves an
Oh-Hell-NO!!!