11. Raise the amount of FDIC insured accounts from $100K to $250,000 since the value of the dollar is so low. This will discourage more people from pulling their funds out of the banks.
12. Allow a higher tax deductible contribution to 401K accounts. Raise the minimum from $4,000 to between ten and twenty thousand ($20,000) encouraging savings in safer securities.
Following up on his proposed Imperato offered these words, "Foreign banks need to get in line, not receive any funds to save their failing organizations until US based corporate interests are secure and satisfied with bailout package. Even the amount proposed is not big enough to accommodate foreign interests when it is really designed to protect the people of the United States.
"Since it is supposed to be a republic of the people, then we need a bottom up approach. We start right in consumers' wallets and give them immediate breaks on the outrageous credit card rates so they can afford the monthly payments and food on their table.
"This package should really be a refund and loan program for home buyers. Having already lost value and most facing rising interest rates, the fixed rate of three percent keep troubled families in their homes and allows more Americans to buy distressed real estate and homes. The people should be buying these homes, not the federal government. Longer mortgage terms also reduce monthly payments and directly helps families handle their basic housing needs while juggling the cost of living increases for food and fuel.
"The 50-year low interest loans have been proven successful by the Japanese where their real estate market is based on a 99-year lease because of the shortage of real estate in the major cities.
"I release this today just as the two major party candidates are preparing to debate. Listen closely to what they offer because neither will suggest points as practical as those I have presented. Exactly why America should have the right to allow major-minor party candidates in the debate. I have independent candidates for both congress and president endorsing my plan. Now if we can just get Administration and federal government advisors to listen, it will be an enormous benefit to the people of the United States.
"Before you bail out the top with blank checks you need to insure the bottom – representing the people – that once we implement these points the people will really and truly put money in their pockets. Financially healthy homeowners protect the economy with cash-flow and maintain the strength of the USA for the people regardless of governments influence."
Imperato admitted to being guilty when it comes to buying American. "Instead of bailing out the auto industry, they need to work closely with unions and find ways to offer American made cars as inexpensive as possible. The 3% fixed rate for all US made automobiles will put more American made cars on the road and help turnaround the economy in especially hard-hit areas like Michigan."
Of course in the first debate between the big two party nominees, neither gentleman mentioned any of the points that Mr. Imperato has outlined. The question then remains, why shouldn't those who succeeded in earning ballot positions on enough state ballots to mathematically earn a winning number of Electoral College votes should be permitted to present their ideas to the American voters over the public airwaves?
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