The Rise of Herman Cain, The Fall of Rick Perry

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Disclosures are due on Oct. 15, but Perry's campaign revealed its latest totals on its Web site Wednesday. Perry's figure is less that Republican contender Mitt Romney, the former Massachusetts governor, raised in the second quarter before Perry entered the race but its also likely the most any will report for the latest period.

But that's not been enough for Perry to fend off the rising political star of Cain. The former Godfather's Pizza CEO is fast gaining momentum in the Republican presidential race, and is starting to make a run for it after his Florida straw poll victory.

Cain has never held elected office, but his common sense, experienced business tone delivered with a Baptist preacher's flair is beginning to resonate with many voters, according to a new ABC News/Washington Post poll.

Perry, who's been at or near the top of most polls since announcing his bid for the GOP nomination two months ago, is slipping. The new poll shows Perry has lost roughly half of his support over the past month.

And as Perry slips down, Cain, from Georgia, is on the rise. The ABC News/Washington Post poll showed Cain is now tied for second place, with Perry, after Mitt Romney.

Perry's slip is attributed to several factors, including a subpar showing in several recent debates and opposition to his immigration policies in Texas. Meanwhile, Cain's star has been rising with potential voters who see him as effectively articulating solutions to America's ailing economy, including his 9-9-9 tax plan.

Under his 9-9-9 plan, Cain proposes a 9 percent corporate tax, a 9 percent personal income tax and a 9 percent national sales tax. He believes the plan is simple enough to promote economic growth.

From the Washington Post: "Rick Perry's star in the race for the GOP presidential nomination has faded, as most of those tuning in to recent debates say the more they hear about the Texas governor, the less they like him. By contrast, Herman Cain appears to have benefited, moving into the top tier."

The new poll revealed that among the nearly half of Republicans and GOP-leaning independents who said they've watched recent debates, 70 percent like Cain more, while only 29 percent like Perry more. Some 56 percent said the more they see of Perry, the less they like of him, while only 12 percent said the more they see of Cain they less they like of him.