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"King O" may have convinced you, and even most of his supporters, that he's no friend of corporations ... but one look at the contributors who financed his two election campaigns will tell you a whole different story. This administration basically functions as a wholly-owned subsidiary of GE.

The ACA Cadillac Rule is designed to scourge businesses which provide generous benefits to employees. The tax revenue was always destined to subsidize King O's redistribution plan and to punish success.

Obama isn't terribly bright, but even the most rabid leftists who do his thinking for him and draft the scripts for his teleprompter knew well that the ACA Cadillac Rule would generate almost $0 in revenue. They know this because they recognize that even crummy business owners are smart enough to know that there's no reason to pay a 40% tax on a benefit when it's much easier to just drop the benefit.

Keep in mind that most of the workers in the U.S. who have had these "Cadillac insurance plans" over the years are union employees of major U.S. corporations. "King O" has basically 'effed these union workers on behalf of these corporations.