ObamaCare's Worst Tax Hike - WSJ.com

Yet his claims are just plain wrong, as already exposed by the Congressional Budget Office. The government can't spend the same Medicare dollar twice: Either it can reduce the deficit or extend the life of Medicare, but not both. this may seem an arcane point, but the White House obviously knows better and yet continues to peddle this falsehood.

The White House has embraced this investment tax because Big Labor opposed its preferred excise tax on high-cost health plans. So the White House decided to delay the excise tax, which meant losing $116.2 billion in revenue over the first 10 years. Voila, out came the 2.9% investment tax.