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Deficit-Reduction Idea

Here?s an idea that would go a long way toward reducing the federal deficit: A presidential fib tax on Obama every time he says something that?s not true.

Over this just past media-blitz weekend, for example, Obama said that fining people who do not buy health insurance is not a tax. ?I absolutely reject that notion,? he said. ?No, that?s not true, George,? he insisted to ABC?s George Stephanapolous.

The ? for us to say that you?ve got to take a responsibility to get health insurance is absolutely not a tax increase. What it?s saying is, is that we?re not going to have other people carrying your burdens for you anymore....

Republican staff on Capitol Hill responded, with admirable restraint (as reported on NRO):

President Obama might be interested to read the Chairman?s mark of the Finance Committee bill, which says that, ?The consequence for not maintaining insurance would be an excise tax.? The mark further says that, ?The excise tax would be assessed through the tax code and applied as an additional amount of Federal tax owed.? CBO and the Joint Committee on Taxation estimate that the government will collect $20 billion from taxing the uninsured. CBO and the Joint Committee on Taxation estimate that the government will collect $20 billion from taxing the uninsured.
[Emphasis in original]

Does the IRS have a special drawer to hold funds it collects that are not taxes?

Full post as published by Discriminations on September 21, 2009 (boomark / email).