Suze Orman TwitterSuze Orman FacebookSuze Orman YouTubeSuze Orman LinkedIn
View Blog & News List

Gay Americans pay more taxes for fewer rights

February 25, 2013 at 7:00 AM

(CNN) -- That nine states and the District of Columbia have legalized same-sex marriage is encouraging progress for those of us who believe that everyone deserves to have basic civil rights. But, even if every state in the country could pass a similar legislation, it would not be enough. What we need is for our federal government to step up and make this basic right a law of the land.

Beyond the social discrimination, the refusal of our federal government to legally recognize same-sex marriages imposes steep financial penalties on same-sex couples. That two of the most costly penalties are triggered upon the death of one partner just adds to the ache of the senseless discrimination.

I have been with my partner, Kathy Travis, for 12 years. If I am lucky I will spend the rest of my life living and sharing my joys and happiness with her. We have worked very hard as a team to save for our future together and consider everything we have as equally owned by the other.

If the federal government recognized same-sex marriage, then when one of us dies our assets would seamlessly transfer free of tax to the survivor. That's a basic right that every heterosexual married couple has.

Suze Orman is a personal finance expert and hosts

But because there is no federal recognition of same-sex marriage, if I die first, or vice versa, before either of us can inherit what is now jointly our assets, there would be a federal estate tax bill that one of us would currently have to pay. Again, to be clear: If we were a heterosexual married couple, there would be no estate tax regardless of the size of the estate or who died first.

This spring, the Supreme Court will weigh in on the constitutionality of the federal Defense of Marriage Act. The Court needs to do the right thing and end discrimination against gay couples.

Read the full article

Tag Cloud

Money-SavingCommunication Skills Financial Solutions For Youbad decisionsPersonal Financebuying a carincentives for health care wellness screeningTeachUrbana-Champaignbuy homeborrow each year, capitalization is going to pile up Lovegraduationis it kind?emotional stakesautomatic withdraw to savings term insuranceFRAwomen longer life spanOverspendinggay marriage ban end Florida social security never insolventdeath benefit 20 to 25 times annual incomeget health insuranceStaffords this year have a fixed 6.8% interest rateincrease retirement contribution rateCory Bookermortgage disclosureGay Rights10 year repayment plan children under 18long-term care overspend on nights outpay down student loan debtsave Credit scoreinitial tax break 2016 adjust estimated taxhigh deductible health care planconsider roth 401(k)car buying mistakesStudent Loanbecome member BankruptcyheartacheLifestylelousy investmentEmployer Matched Contributiondon't spend retirement accountsleave a legacylower premiumiffy incomeStudent Debt Crisisloved ones dependent on incomeAmericans don't use all paid vacation timecostly insurance mistakeswitch to roth 401(k)wives should be involved in retirementone annual feeno fee transferHolidaygrandparent IRA contribution GraceFinal Goodbyefamily save at least $100 monthlyworst financial mistakeLTCOne Wallet At A Timevalentines daySave Us Moneyhigh premiumsemployer funding HSApay credit debt ASAPbill paying prioritiescommitPBS Speciallower mortgage interestcan you afford itGay Coupleslow down payment2015 financial roadmapignore 6 month grace period Durable Power of Attorney for Health Caresocial workmarriage inequalitySuze Orman's Money Warsloan necessityprotect loved ones ultimate compounding giftraise deductiblesmake saving a pleasureYoung Adult Heartstudent loan repaymentwrite new goalknow before you oweHoliday Seasonemergency fund savingsbad retirement planning2015 record year car salesPay Off Debt Before RetirementUniversity of FloridaBaby BoomersSuze changed my lifeInfluentialspermanent life insuranceMarlo ThomasJose RodriguezInvest for savings growthwaive home inspection bid20% down paymentnew carpercentage of women widowed 75-84Civil Rightsdental savings planMass Mutualverify wellness screening and programsFederal Funds Ratedental insurance School of Social Workget over life insurance phobia4 Must Have Documents don't defer interest paymentsInfluential CelebrityFICO credit score credit card mortgagehome loan credit score below 740 New american Dream would you decline a bonusno tax on withdrawlsMortgage Credit Availability Indexdon't blow tax refundunsubsidized Stafford loanloan big picture couple financesGoodbyefull retirement agerequire chore in exchange for allowanceFinancial Awareness Video Festivaldepreciating asset employer offered life insuranceSpendingsame sex marriage band end Floridaverify retirement plan with HR or plan sponsorstudentdon't use allowance as bribeloan is giftavoid burn outFinancial Power of Attorneyno sneaking in feesGifthome buying mistakeswomen live longerHow To Build Creditsidelinednot enough life insurance8 Rulesfocus on new truth push yourself to save more for retirementdangerous money seasondream schoolFinancial Awarenessreal estate marketdangerous retirement planletter to suze8 month emergency fundSandy Hook Elementary Schoolcommunity collegemax benefit coveredalternative FICO scoreLTC shoppingat worst still pay 75% benefit3 step financial road mapfile asapbest loan deal insuranceMotheroverspend on dining outteach your child good money habitsSuze Orman spouse Kathy Travisemergency fund financing car television hostrent vs buymaintain standard of livingnot gender specific powerfulHSA tax savings!00% tuition paidtax ID theftpay 100% cashcreate new truthCommencement10% donate to charityschool stretch out haircut appointmentslife insuranceno negativityHDHP financial concernExhibitionChanging LivesStudent Debtloan no longer than 36monthsWall Streetno splurge home buying budgetfederal student loan deferment New York LifeFundsdon't ignore open enrollmenthigher insurance deductiblepay more than minimumno life insurance financially irresponsibleSandy Hook Promiselow credit scorePrime Rate Rise 2015Stock Investmentsdoctor no longer in networkSuze OrmanForbesHoliday ShoppingFinancial Cliffhome ownershipdon't cover cosmetic dentistryAlarm ClockForbes Top 10roth iraAuto Savings interest capitalizationForeclosureis it true? be true to yourselfdon't buy wantsCredit Card Rate Increasedo you need life insurancefinancial argumentsHDHP's are not badcredit unionAccuQuote.comjanuary billsinsurance mistakepay interest while in school40% toward financial goalfinancial goal phrasehome budget after tax costHDHP's are good for youpay off debtUniversity of Illinoissocial security not going brokedon't do five year car loansummer job match income identity fraud8 month safety netstore credit cardsbe kind to yourselffinancial independenceuniversal college accessSuze Orman Scholarshipconfident of solutionWarner Bros Television Groupvalue moneyThe Suze Orman Showsuccesscnbc alarm clockMost Influential Celebrities Listis it necessary?Financial Gift CliffFICO Score401(k) Contributionsovercome financial fearspercentage men widowed 75-84cut monthly cellular billcut monthly cable billpreexisting condition not coveredEric Dodge long-term care premiumsbig results balance transfer grandchild summer job IRA contributioncar leasingSatisfyingspeak new goalno waiting periodraise insurance deductiblewomen outlive menget credit cardplanage appropriate choreretirementWashingtondebit cardMoney Marketonly offered while employed same-sex marriage50 over 50US Tax Coderetirement planpurely financial standpointmobile appMoneybetter loan ratesSelectQuote.comPost-Divorceteens and moneydebthousing marketAmy Lacyetstudent loan repayment planpublic service loan forgiveness programfocus on needsinsurance yearly reviewincrease retirement savingsdoctors in networkpay high rate off firstcredit cardpresident Obamaface your financial fearoverspend on giftslearn good financial choicesfinancial fearsalways use all paid time offretain separate credit cardsPrime Rate Increaseprotect dependent dear suzebuying car 2016replace permanent life insurance with termautomate student loan paymentsmoney vowsprovider of financial supporthigh FICO scoreCollege of Veterinary Medicineinterest on student loansmonthly benefit Long Term Care Insurance gift not loanstudent loan debtshop online guaranteed level term policyEasy Life Insurance paid vacationzero rate transfer dealstraditional vs roth 401(k)rising home pricesswitch to spouse coveragedeath benefit needs for familyBankprotect your familyFiscal Responsibilitymarriage financial responsibilityHDHP'sFinancialritual scheduleRetirement Savingssavingsterm life insurancecalculate dependents annual income needslower rateRichGiftsbest interest ratesmanage student loansstudent loan repayment estimatorbreakdown projected monthly housing costunexpected expenseAshley SpringerNewtownpublic service career student loan repayment don't charge a pennydo not pay allowance for good behaviortaxesholiday spendingIRA contribution gifted moneyjuggle multiple financial goalsincrease emergency savingsRevocable Living Trustwomen long term careSuze is my biggest mentorlong term carereal estate mistakesBeautyAARPspecial saving accountthree year car loangift up to 14,000enjoy saving max employer matched 401(k) contributionresponsible with moneyFinancial AdviceCNBCmonthly dental insurance premiumFinancial Systemcollege graduateLTCi ASAPgift grandchild IRA contributionderailed planpay down car loantake actionEmergency SavingsFree Debt Eliminatorpositivephysical health2016 adjust withholdingTelepicturesunder 18 financial giftmortgageis it necessaryteensone credit cardyours, mine & oursLong Term Care premiumscomparison shoppingcost of capitalization calculatorSuze approvedapproved medical 100% tax-freeadvice for college graduatesdental discount plansmall changes confidentpaying for collegecredit reportLong Term Care shoppingopen enrollment review Retirement Incomeback door Roth IRA401KVeterinary Schoolfraudulent returnCredit Card Interest Raterequired disclosureFinancial Educatorget the most out of social security Adequate Auto and Home Insurancecharges on credit cardlet them have 50% controlInterestmental healthAARP Social security calculatorteach importance of helping others6 month waiting periodkeep a schedule19 years cash flow problemstay positiveprotect and provide for minor child car loanretirment savingslive below your meanssave moneyPhyllis Shelton expert long-term carefour steps to retirement savings

View Blog & News List
People First. Then Money. Then Things.
Connect with me on Facebook Connect with me on YouTube Connect with me on Twitter
© 2016 Suze Orman Media Inc. All rights reserved.
 |  Search  |  Sitemap  |  Privacy  |  Terms
Sign Up For E-mail Offers
Open Panel
Close Panel