Obama campaign refutes Palin tax claim
October 25th, 2008The Obama campaign rejected Sarah Palin’s claim about special needs trusts as false and misleading, saying that only families who make more than $250,000 a year would face higher taxes under the Obama administration.
“It’s not true that the Obama tax plan singles out, or penalizes, or in any way is designed to negatively affect families who have children with disabilities,” said Obama deputy economic advisor Brian Deese. “It’s just absolutely untrue.”
Independent estate planners contacted by ABC News also challenged Palin’s claim. They said that only extremely large trusts would have to pay increased taxes under the Obama proposal.
“The vast majority of special needs trusts don’t produce very much income, and whatever income they do produce, they have to use for the beneficiary,” said Harry Margolis, a Boston attorney and founder of the Academy of Special Needs Planners.
With video.
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on Saturday, October 25th, 2008 at 9:42 am and is filed under Campaign 2008, asset management.
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