Of course the stock market dropped about 130 points after the Supreme Court decision on Obamacare. Twenty new or higher taxes across the board are bad for economic growth, bad for job hiring, bad for investors, and bad for families.
A tax is a tax is a tax, according to Justice Roberts. But he forgot to say that if you tax something more, you get less of it.
Presumably Mitt Romney will make this case in a major way. Hopefully he won’t forget that Obamacare is not just a huge tax hike. It’s also a major new spending entitlement that’s already pegged at $2.5 trillion and will increase the federal debt burden much faster than the GDP expands.
In other words, tax, spend, regulate, borrow. The Obama mantra. Romney must go after it — time and time and time again.
Bankrupting the economy is not exactly a job-creator.
Tune in for a special edition of "The Kudlow Report" Thursday night at 7 p.m. ET.
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