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Did High Court Just Do Romney a Solid?

The Supreme Court ruling may look like a win for President Obama, but when all is said and done, it could be a much bigger win for Mitt Romney.

That’s the analysis from Ed Mills of FBR who believes right into the election, the Supreme Court ruling will remain in the headlines - with the reason behind the decision getting a lot of attention.

The President’s health care reform was not upheld by the court as sound policy but rather ruled valid under Congress' constitutional authority "to lay and collect taxes." (Click here to read the entire ruling.)

Mills believes the most important word in that statement is taxes. The ruling increases taxes.

“For the GOP it is manna from heaven to call this a tax,” says Mills. “Republicans know how to message tax issues and I don’t see Democrats wanting to defend a tax."

Mills goes on to suggests that the decision may help Romney gain a foothold, at a time when the GOP presidential candidate is badly in need of one. Mills thinks repealing the legislation - especially the controversial individual mandate will with resonate with voters.

“What the decision does is energize the base of the Republican party. It gives the GOP every reason to get out to the polls and not only elect Romney president, but elect a Republican president to work with him.”

Immediately following the court decision, Romney vowed that if elected president his first order of business would be to repeal Obamacare, officially known as The Affordable Care Act.

“Although the decision today may be a great win for President Obama’s legacy it’s a big loss for his re-election campaign,” says Mills.

Posted by CNBC's Lee Brodie

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Trader disclosure: On June 28, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Brian Kelly is long SPY CALLS; Brian Kelly is long QQQ CALLS; Brian Kelly is short YEN; Brian Kelly is short POUND; Joe Terranova is long VRTS; Joe Terranova is long MCD; Joe Terranova is long PNC; Joe Terranova is long USB; Joe Terranova is long TCBI; Joe Terranova is long SBUX; Joe Terranova is long UPL; Joe Terranova is long PXD; Joe Terranova is long WFM; Joe Terranova is long NXPI; Joe Terranova is long HYG; Joe Terranova is long AAPL; Joe Terranova is long EMC; Joe Terranova is long LPX; Joe Terranova is long OIH JULY $34 CALLS; Karen Finerman is long AAPL; Karen Finerman is long BAC; Karen Finerman is long JPM; Karen Finerman is long WMT; Karen Finerman is long TGT; Karen Finerman is long RIMM; Karen Finerman is long M; Karen Finerman is short SPY; Karen Finerman is short IWM; Karen Finerman is short MDY; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU; Scott Nations is long SPY; Scott Nations is long C; Scott Nations is long BAC; Scott Nations is long JPM

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