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Indicated on fox that new taxes could be part of the discussion if democrats agree to serious entitlement reform. >> think republicans, if they true entitlement reform, would be glad to look at tax reform that generates additional revenues. that doesn't mean increasing rates. it means closing loop homes and arranging our tax system so we have economic growth. i think we've been saying that from day one. >> reporter: the house budget committee chairman paul ryan says he thinks president's trip to capitol hill to meet with republicans is a good start but he thinks the bipartisan spirit needs to ...

Allow the president to negotiate more on entitlement cuts? >> there is a lot of ways republicans have said this, there are ways to raise revenues. loop homes are important and it would give the ability to raise the kind of revenues we need in addition, if you lower the rates you will get more paid in through volume. already the top 6% pay the majority of taxes for everybody else. it becomes a negotiation point as to what the definition of rich is. where does it start and how much it is going to be. republicans have signaled we are willing to talk about revenues but democrats as a congressman p...

Mandate and support an increase in tax rates to balance this budget. >> that is not true. for the bush tax cuts to expire and top 2 percent even most generous estimate that is $90 billion more in revenue. not $1.6 trillion more in revenue even over ten years. even if you accept that larger number, the deficit is $1.5 trillion so, even if the republicans raise the you are giving $90 billion. where are you going to get the rest of it? it will have to come from entitlement reform and meaning spending cuts. >> it's coming from loopholes. i think we can. >> he criticized governor romney's plan base...

His hands were tied inaccurately blaming democrats and saying it was up to congress to end the crisis. >> we can't do it through an executive order. >> until loop homes are closed by congress, it is not possible as a matter of law to detain and remove whole family units who arrive illegally in the united states. congress and the courts created this problem and congress alone can fix it. >> it's congress' job to change the law. we're calling on them to do exactly that. >> just to be clear, everything you just heard was a lie. we know that now the president is, in fact, going to act alone. he is...

Group, simpson and bowles, they say close tax loop homes, we talked about that, but then they drop corporate taxes, cut federal spending and that's the big one, bill, cut federal spending over the next 5-7 years to cut into some of the decifit increases and the bottom, gasoline tax, 15 cents a gallon across the board and here you go, the last one, center right, the ritkin- dominiqueie planned they say cut federal spending, close loop homes, cut corporate taxes, but see the one at the bottom? 6 1/2% value added tax or national sales tax on everything, every good or service we produce. here's th...