Republicans have seized on the Supreme Court’s decision that the health insurance mandate is a tax, believing it will help them argue a second term for President Obama would be devastating for the economy.

Presumptive GOP nominee Mitt Romney employed the line of attack shortly after the ruling came down, asserting that “ObamaCare raises taxes on the American people by approximately $500 billion.”

Sen. Marco Rubio (R-Fla.), a top contender to be Romney’s running mate, drove home the point, arguing Obama has been freed to unleash an army of tax collectors on the public.

“If you do not buy health insurance, the IRS is going to be on your back and chasing you,” Rubio said.

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