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Is health care ruling Obama's 'Read my lips: No new taxes' moment?

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Boom. Obamacare passes constitutional muster because its chief element is a tax.

"The Supreme Court has spoken,” declared Senate Republican Leader Mitch McConnell. “This law is a tax."

Americans for Prosperity, the conservative political action committee funded by the Koch brothers, has just launched a $9 million ad campaign targeting the ACA and running in 12 swing states.

"Obama's health care law is actually one of the largest tax increases in history," the ad's narrator says. "Shouldn't Obama's priorities have been creating jobs and ending reckless spending?"

Meanwhile, key Democrats were all over the Sunday morning TV blabfests denying the charge.

“This is a penalty. It’s something that only 1 percent of people who can afford insurance and choose not to get it will pay,” White House Chief of Staff Jack Lew said on CNN’s “State of the Union.” “Everyone who has insurance, everyone who chooses to buy insurance will not pay it. What they’re going to get is security – they’re going to get lower premiums and better health care. That’s a good thing for the American people.”

Speaking on NBC's "Meet The Press," House Minority Leader Nancy Pelosi accurately parsed the Supreme Court’s ruling this way: “It's a penalty that comes under the tax code.” But she stumbled a bit in doing so, points out Josh Gerstein at "It's a ta – it’s a penalty for free riders," Pelosi said, nearly uttering the dreaded T-word before cutting herself off.

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