WASHINGTON (CNN) – House Majority Leader Eric Cantor said Tuesday that President Barack Obama provided further details of his plans for entitlement reforms at the latest round of deficit reduction talks at the White House.
Cantor said Republicans support what the President laid out in terms of entitlement cuts. However, the Virginia Republican said his GOP colleagues in the House won’t support any tax revenue increases.
“Nothing can get through the House right now – nothing, that’s the issue,” Cantor said of any kind of tax increase. He suggested that Congress consider Obama’s proposed entitlement reforms without any corresponding tax increases, a proposal that Democrats were considered certain to reject.
Cantor also said that at Tuesday’s meeting, Obama ”walked through” his proposal to end Bush-era tax cuts for the wealthy while extending them for families that earn less than $250,000 a year. The negotiators also talked about how to include tax reform as part of a larger deficit deal, but Cantor said Obama didn’t commit to a specific tax rate for the wealthiest bracket under his plan.
The question of progressiveness in a reformed tax system, with wealthier Americans being assessed a higher tax rate, is a sticking point in the deficit talks. Republicans want lower rates for all in a reformed tax system, while Democrats want to make sure that wealthier Americans shoulder a larger tax burden than the middle class.
CNN's Tom Cohen contributed to this report.
Congress' pay checks and medical coverage better lapse if they don't fix this issue. If congressman continue to draw paychecks while social security payments stop, I think they all need to resign.
The president SHOULD insist on tax increases on the substantially rich. Why should they be immune to sharing the burden of the country's economic problems. And if the rich produce jobs with their wealth, where are those jobs?
TAX THE RICH.
It's going to take cuts and raising taxes to fix this mess. The GOP has boxed themselves into a corner with their purity test of "no new taxes." It cannot be fixed on cuts alone unless you cut grandma's SS check and Medicare. That would not only not fair well with seniors but those in the GOP who are Christians cannot accept that and still follow the words of Christ. So it is going to take both cuts and increase in revenue. Best bets are cut Defense (Pentagon/$$ to Pakistan, etc) and resume revenue on the top 2%. If $250,000 is too low for Wall Street and the GOP then raise it to $500,000K. A half-million dollars is fair.
Where are the jobs Cantor? Boehner (Lighting his cigar with a hundred dollar bill, pilferage from the extended tax break for the wealthy . . . as he take a puff) "We are BROKE"
Obama play another card–no check for s.s people. The same he play 2.5 year ago. They will tell you he got fanny name, he is black, he not born in USA. Remember?. This man is something else.
We need to gut corporate welfare. Oil companies, and companies like McDonalds do not need Federal aid for overseas advertising. We need to tighten up the regulations on Wall Street, put some of these clowns in jail and levy some hefty fines. And we need to roll back tax levies to Eisenhower. Close the loopholes in the tax code so corporations pay 60% of taxes, not individuals. It was that way in the booming 50s. Two cars in the garage.
I'm sorry...all I heard was "waaaaaaaaaaaaaaah"...could you replay the tape please?
Shut up Cantor, you are an embarrassment to Virginia.
Adults compromise, and corporate loopholes are even more of an embarrassment than you are.
Sounds like House Majority Leader Eric Cantor needs the help of Bachmann and Associates counseling service !
No way should the budget be balanced on the backs of the seniors and the poor, the Bush tax cuts and the Bush war is what started the out of control spending, so put the pre Bush tax levels back in place to balance the budget.
Taxes is only way move money around from people to business to production sale which mean more jobs. Bless.
No, Mr. Cantor, LOOPHOLES that benefit the oil companies, billionaires and Big Corporations that has their companies overseas, employing third world workers, while registered in the U.S. is What this is about. NOT TAX increases. You and your minions are supporting taking tax payers monies and giving it to corporations. Rupurt Murdock's Corporation is registered in the U.S, although most of his business is in the UK. Last year, his corporation paid 0 in taxes and received taxpayers monies after loopholes of 4billion . This is insane.
Can't you see this man's ultimate goal. He wants more taxes so he in caring out George Soros' plan to bankrupt America and destroy our military he wants to spend more money to drive us furthert into debt. It is sad that his followerers can't see this. I have no ideal what their goal is. Whatever he does is not going to to further thier cause one iota. They will receive not more food stamps, welfare or help with their utilities. All that will stay the same. As for Obamacare heck fire they're getting free healthcare now. Grow up imbeciles and decides whats best for this country. IT IS NOT OBAMA.
Mr. rethoric Cantor should not be critical of anyone. He is a butthead.
Fire Cantor. Fire the GOP for not representing the people.
Where are the jobs Republicans. You said if you were voted in you would create jobs. Well no jobs just more lies.
You are for the rich and the big corporations. We are sick of you and your lies.
Where are the jobs?
When the republicans voted for ryans bill all of them voted yes to it even when it would raise the dept ceiling and now they are going to flip-flop on the issue to siut there own needs for big biz and corperate money along with the lobbyists is this the platform they ran on in 2010 when they told the american people they were sorry for what they done in the bush years how they drove up spending and costs like a bunch of drunken sailors in a whoerhouse with a fist full of fifties? and we want more of the same look at the republican goveners and how they reject when the federal goverment trys to help the country?the only thing that can speak more than money in washington is the peoples vote when the american people vote out the bad and vote in the good.
"Democrats want to make sure that wealthier Americans shoulder a larger tax burden than the middle class."
Since this policy actually yields almost no additional revenue, the insistence on it by the Dems reflects nothing other than vindictive envy of successful people and a further fanning of the flames of the class warfare that seems to be such a big part of their campaign strategy.
Lets cut the free health benefits to the congress first. Let these IDIOTS pay for the Health and the SS and the Medicare taxes plus the SDI taxes as well
Cantor is the real boss, he is really in charge, Boehner does not look like he is in control of Congress and Cantor is eating away at his leadership post, I would not be surprised if there is a change, for the more radical politician backed by the Tea party, so Cantor will be the man.
Cantor is a very Doom and Gloom type of guy, always dragging a Black Cloud over his head.
President Obama is doing his job, and that is to keep the GOP from giving out tax cuts to the rich and add 1 trillion to the deficit and then turn around and crack down on "spending" to programs the middle class needs as a safety net like Medicare, Medicaid, WiC, unemployment,etc. "because the deficit is out of control".
...over heard from the GOP'rs while in discussion with President Obama...'I want I want I want' pause 2,3.."no no no'...repeat as many time as you like...
And Kantor continues to push for prtecting the feather nests of his cronies – even at the expense of bankrupting the federal government for the first time in history.
Republicans are either want to punt, project the wealthy (under the guise of "businesses") or both. Don't a politically sound strategy. How about compromise with the Dem's and Obama. That way, everyone looks good. Trying to bring down a presidency is just not a good way to go. Get something done, and your job title will be more secured...
Sounds like he's sticking up for the middle class, you know those that pay taxes. FICA, FUTA, SUTA, SALES, MEDICAID, MEDICARE.