Friday, October 24, 2008
Do Lies + Fear = Votes? Special Needs Trusts and Taxes
Sen. McCain and Gov. Palin today started a new misleading attack against Sen. Obama -- that his tax plan would somehow harm "special needs trusts," which are long-term savings accounts for people with disabilities. Let's check the facts:
- Obama's plan will not raise taxes on any family earning less than $250,000 per year.
- A special needs trust earns interest, just like a savings account does. So if a person had a special needs trust of $5 million, that account could produce annual income of $250,000 and may in fact lead to higher taxes under Obama's plan. Do you have a family member with special needs who has $5 million in a special needs trust? If not, the Obama tax plan would have no impact on that account.
- What economic impact will the McCain-Palin plan have on children and adults with disabilities? To answer that question, consider the impact of freezing, reducing, or eliminating every federally supported benefit they currently receive -- Social Security, housing, education, and other support. Consider the impact of a health plan that does not require providers to cover pre-existing conditions like autism and Down Syndrome. Some analysts have predicted that as many as 20 million Americans could LOSE their existing health coverage under the McCain-Palin plan.
You will be hearing more McCain-Palin lies over the next 11 days -- their campaign has officially announced a new strategy to try to win votes by scaring parents with special needs kids. Are you more likely to vote for presidential candidates who turn away from visions and plans in order to try to scare you into voting for them? Apparently they think families dealing with special needs are so (a) stupid or (b) vulnerable they can be manipulated into believing outright lies.