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Exactly What Is Max Baucus Saying Here?

The Teleprompter Speaks Wrote: Oct 22, 2012 10:52 AM

It doesn't matter what's in the law. It only matters what the Supreme Court will say. The law says the penalty isn't a tax. The people that wrote the law say the penalty isn't a tax. The people who passed the law say the penalty isn't a tax. But the Supreme Court says it is.

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Exactly What Is Max Baucus Saying Here?

At a packed Cato Institute briefing on Capitol Hill yesterday, Jonathan Adler and I debated ObamaCare expert Timothy Jost over an admittedly wonky issue that nevertheless could determine the fate of ObamaCare: whether Congress authorized the IRS to subsidize health insurers, and to tax employers and certain individuals, in states that refuse to establish one of ObamaCare’s health insurance “exchanges.”

I want you, dear Cato@Liberty readers, to help us get to the bottom of it.

Adler and I claim that Congress specifically, repeatedly, and unambiguously precluded the IRS from imposing those taxes or issuing those subsidies through federal “fallback”...