Cantor believes President Obama doesn't want to deal with the spending issue, with the president preferring to "inflame" the country before the 2012 election by dividing Americans and pushing for taxes on the wealthy, he said.
"The problem is right now what you’ve seen is an administration that doesn’t really appreciate folks who want to come to America and be successful," Cantor added. "Why would you want to come here, invest your capital or take risk here if you’re just going to be excoriated for being successful and accused of being greedy?"
He said taxing the rich is no guarantee Washington will even create jobs. "Is it better to let [Facebook founder Mark] Zuckerberg keep the money to create more jobs in that company or better to send that to Washington in hopes of Washington creating the jobs?" Cantor asked.