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Cain to Detail "Cain's Vision for Economic Growth" in South Carolina

Press Release

Location: Stockbridge, GA

Republican presidential candidate Herman Cain will host a meet-and-greet to detail his "Cain's Vision for Economic Growth" at 3:30 p.m., Thursday, August 18, 2011 at Hudson's Barbecue, 4952 Sunset Blvd., Lexington, South Carolina.

"While President Obama searches for an economic growth and jobs plan, I have one," Cain said. "I am willing to share my plan with the President, Congress and the "super committee' because America can't keep waiting."

Cain previously unveiled a portion of his plan during a trip to Greenville, South Carolina, in late June. In this immediate economic boost, Cain proposes:

1. Lower the top corporate and personal income tax rates to a maximum of 25 percent.
2. Eliminate taxes on repatriated profits.
3. Take the capital gains tax rate to zero.
4. Provide a full payroll tax holiday for both employers and employees for a single year.
5. Make the tax rates permanent to quell economic uncertainty.

Cain also favors a long-term phase out of the entire tax code and replacing it with a national consumption tax, also known as the Fair Tax.

In addition to the meet-and-greet, Cain will have press availability from 3 p.m. to 3:30 p.m.

Cain has held several executive roles in the private sector: as a business analyst for Coca-Cola; as Vice President of the Pillsbury Company, leading the turnaround of 450 Burger King restaurants; as Chairman and CEO of Godfather's Pizza, taking the company from the brink of bankruptcy, returning it to profitability and leading his management team in a buyout in just 14 months; and as the Chairman, President and CEO of the National Restaurant Association, leading the nation's single largest private industry. He has served on the boards of directors of several major American and multinational corporations, including Whirlpool, Nabisco, SuperValu, AGCO, Hallmark Cards, Reader's Digest and Aquila. Cain's professional record as a job creator and "turnaround artist" sparked the interest of the late Secretary Jack Kemp, who selected him as a member of his "Economic Growth and Tax Reform Commission."

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