“The American dream is under attack because we have become a nation of crises,” said Mr. Cain. “And that shining city on a hill that Ronald Reagan talked about has started to slide down to the side of the hill because of all of these crises.”
Mr. Cain criticized the anti-Wall Street protests protesting this week in New York, saying their angst is misguided and that Congress and President Obama instead are to blame for the country’s economic woes.
“You can demonstrate all you want to on Wall Street. The problem is 1600 Pennsylvania Avenue,” said Mr. Cain while an audience of at least 2,000 roared with applauses. He failed to mention, though, that the Wall Street bailout of 2008 was orchestrated by the administration of former President George W. Bush.
Mr. Cain defended his “9-9-9” tax plan, which calls for setting the personal income tax, including Social Security and Medicare, at 9 percent for everyone, reducing corporate taxes to 9 percent and establishing a new national sales tax of 9 percent.
“The critics are already trying to try and prove why 9-9-9 is not a good idea,” said the former chief executive officer of Godfathers Pizza chain. “No, there has been some very serious thinking that went into that.”