James Saccacio

What he does: Chief executive officer, RealtyTrac
Where: Irvine, Calif.

“Here are five things Washington can do to help American business. First, redirect the individuals’ unemployment benefits to employers who will match that money to hire that unemployed worker instead of paying that unemployed person to collect unemployment checks. Second, give businesses a temporary cut in the employer tax portion of the payroll tax and require that the reduction be spent on new workers. Third, repatriate U.S. dollars that are sitting offshore back into America by offering a reduced tax rate, conditionally tied to reinvesting those funds into U.S. factories, operations, and workers. Fourth, promote and market Small Business Administration (SBA) lending nationwide, making it easier to get a federal loan by incentivizing financial institutions to do community marketing outreach to expose the programs. Fifth, allow people to utilize retirement proceeds (401K or IRA accounts) to buy real estate and be able to withdraw those funds—both tax and penalty free—provided you invest in a new piece of real estate or use those funds for a loan modification on existing debt.”
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