Herman Cain Participates in CNN/ Tea Party Express Debate
(Tampa, FL)- Republican presidential candidate Herman Cain participated in the first-ever CNN/ Tea Party Express debate Monday, September 12, 2011 in Tampa, Florida.
In his introductory remarks, Cain reminded attendees and viewers that he was the only "non-politician" candidate on stage.
On Social Security Reform
When asked how he would reform Social Security, citing Governor Perry's claim that the program is a "Ponzi Scheme,"
I don't care what you call it. It's broken and here's my solution: start with optional personal retirement accounts. In 1981, Galveston County employees opted out because there was a very short window of opportunity. They took it.
Today, when people retire in Galveston County, Texas, they retire making at least 50 percent more than they would ever get out of Social Security.
Secondly, allow younger workers to have personal retirement accounts as an option... current seniors will not be affected. It's to give the option to the younger workers.
The Galveston County model works and it also worked in the small country of Chile. Instead of giving it to the states, let's give it back to the workers. That's what personal retirement accounts would do.
On the Economy
When the debate moderator asked how he would fix America's broken economy, Cain responded:
This economy is on life support. We need a bold solution, not one that tinkers around the edges, not one that allows politicians to continue to pick winners and losers.
I believe we throw out the entire tax code and put in my '9-9-9 plan.'
9-9-9: a 9 percent business flat tax; a 9 percent personal income tax; and a 9 percent national sales tax.
Now I've been told by some people, 'Well you can't get that done.' I say, 'Why?' 'You don't know how Washington works.' Yes I do. It doesn't.
The American people are ready to do something bold. We need a bold solution in order to get this economy growing at the maximum rate. I agree with many of the others up here who say 'You get the government out of the way, American entrepreneurship, American businesses will create the jobs if we provide some certainty.'
On Labor
Richard S. submitted a question to CNNpolitics.com: "All of you profess to be pro-business candidates for President. Can you be pro-worker at the same time?" Cain answered:
The answer is absolutely yes, because I was worker before I was an executive and before I was a business owner. Absolutely.
And when I ran the National Restaurant Association, it is a collection of small businesses. Godfather's Pizza is the same way... when I ran a region of Burger King... One restaurant is the basic fundamental business unit in this country.
And so, yes, I know how to be pro-worker because I came from a working family. My mother was a domestic worker. My father was a barber, a janitor and a chauffeur, all at the same time. I understand work because that's how I came up.
So, the answer is absolutely yes. The two are not mutually exclusive. But, what we need is the right leadership, starting with 'Are we working on the right problems?' If we keep tinkering around the edges on the tax code or tinkering around the edges on Social Security, we're not going to solve the right problem.
On the Federal Reserve
When asked about his role as the Chairman of the Federal Reserve Bank of Kansas City, Cain said he believed that while it should be audited, the primary modification should be to "narrow" its scope.
Yes, it should be audited, and secondly, I believe that its focus should be narrowed. I don't believe in ending the Fed. I believe in fixing the Fed.
For many, many decades, the Fed did its job when it was singularly focused on sound money. When we wake up in the morning, we expect there to be 60 minutes to be in an hour. Now, when we wake up because of the actions of the current Fed, we don't know what the value of the dollar is going to be.
In 1988, it took 1.2 dollars in order to be able to convert from Canadian [dollars] to the U.S. [dollars]. It is now totally reversed because of the current policies of the Fed.
On Health Care
An audience member, Carolyn Taylor, asked how the candidates would tackle the rising costs of health care. Cain said:
First, repeal Obamacare in its entirety.
Secondly, pass market-driven, patient-centered reforms, such as, under the current code, deductability of health insurance premiums, regardless of who pays for them. But, as you know, I want to throw that out and put in my '9-9-9 plan.'
The other thing we can do to help bring down the cost is to pass 'loser-pay laws'. Doctors will tell you that one of their biggest expenses is medical liability insurance because of frivolous lawsuits.
Restructure Medicare. Another big cost that is passed on to us as consumers is related to all the bureaucracy associated with that.
Another market-driven idea: allow association-driven health plans. When I ran the National Restaurant Association, which today has 14 million employees, we wanted to design a system for health insurance that was going to be customized for our industry. We could not do that. We need to be allowed to do that, and so should other organizations and other associations.
On the White House as His Residence
Wolf Blitzer asked all of the candidates how they'd update the White House if they were elected President. Cain responded that he'd "bring a sense a humor because America's too uptight!"
About the Debate
During the 1 hour and 45 minute debate, Cain received six questions for a total talk time of less than six minutes. Following the debate, Cain will appear on "On the Record" with Greta Van Susteren at 10:20 p.m. on FOX News.
