Obama: Individual health mandate not a tax increase

On ABC’s This Week with George Stephanopoulos, President Barack Obama beat back suggestions that healthcare reform will lead to a tax increase.

A draft proposal released by the Senate Finance Committee would have Americans pay for health insurance under an individual mandate and fine them if they do not have any coverage. Stephanopoulos argued that would equal a tax increase, checking the definition in the dictionary.

“George, the fact that you looked up Merriam's dictionary, the definition of tax increase, indicates to me that you're stretching a little bit right now. Otherwise, you wouldn't have gone to the dictionary to check on the definition,” Obama said.

Obama went on to say the individual mandate is not a tax increase.

“But you reject that it's a tax increase?” Stephanopoulos asked.

“I absolutely reject that notion,” the president said.