Suze Orman, Financial Guru
Connect with me on Facebook Connect with me on YouTube Connect with me on Twitter
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

Mortgage Credit Availability IndexAmy Lacyetinsurancesocial security never insolventdebit cardworst financial mistakePay Off Debt Before Retirementletter to suzeStaffords this year have a fixed 6.8% interest ratealternative FICO score!00% tuition paidraise deductiblesgay marriage ban end Florida taxesschool Student Debt Crisismarriage inequalityRichyours, mine & oursUniversity of FloridaMoney MarketSelectQuote.comStudent Debtgrandparent IRA contribution retirment savingsThe Suze Orman ShowBankSatisfyingterm life insuranceHDHP home loan credit score below 740 federal student loan deferment verify wellness screening and programsrequire chore in exchange for allowancehome buying mistakesFiscal Responsibilitymax employer matched 401(k) contributionAARP Social security calculatorconfident of solutionNew american Dream open enrollment review store credit cardsswitch to spouse coverageHolidayHSA tax savingsdon't use allowance as bribeInfluentialsPrime Rate Increasenot enough life insuranceSandy Hook Elementary School50 over 50public service loan forgiveness programLoveFICO Scoreignore 6 month grace period 8 Rulesfinancial argumentsMotherEric Dodge graduationPersonal FinanceExhibition20% down paymentSuze is my biggest mentorNewtownno life insurance financially irresponsiblestudentcollege graduatePost-Divorceenjoy saving always use all paid time offFinal GoodbyeBankruptcywives should be involved in retirementTeachmental healthSuze approvedprotect dependent best loan deal marriage financial responsibilityBaby BoomersFinancial Awareness Video Festivalgift grandchild IRA contributionsocial worksave advice for college graduatesget health insurancepercentage of women widowed 75-84Overspendingemergency fund savingsincentives for health care wellness screeningcommunity collegelower premiumstudent loan debtwaive home inspection bidthree year car loaninitial tax break Financialautomatic withdraw to savings Credit Card Rate Increaseteach your child good money habitssave moneyteensWashingtonget the most out of social security maintain standard of livingone credit cardmobile appteens and moneyuniversal college accessSchool of Social WorkSuze Orman's Money WarsHDHP'ssame-sex marriagepay interest while in schoolBeautydeath benefit 20 to 25 times annual incomeTelepicturesretirement planretirementlive below your meanscnbc alarm clockno tax on withdrawlscharges on credit cardVeterinary SchoolLong Term Care Insurance Influential Celebrityautomate student loan paymentstraditional vs roth 401(k)ritual scheduleLong Term Care premiumsPBS Specialhome buying budgetraise insurance deductibleForbes Top 10women outlive menbad retirement planningSave Us Moneyrent vs buydream schoolPrime Rate Rise 2015home budget after tax cost19 years cash flow problemcar leasingHoliday Shoppingfamily save at least $100 monthlymoney vowsUS Tax CodeAARPback door Roth IRACory Bookercouple financesOne Wallet At A TimeGay Rightslong-term care premiumsGiftsSuze Orman spouse Kathy Travisshop online guaranteed level term policyphysical healthFinancial Gift Cliffcut monthly cellular billdon't defer interest paymentslong-term care Most Influential Celebrities ListLTC shoppingcost of capitalization calculatorStock Investmentssocial security not going brokeget credit cardfour steps to retirement savings FICO credit score credit card mortgageunsubsidized Stafford loanHeart10 year repayment plan Financial Systemprotect and provide for minor child public service career student loan repayment calculate dependents annual income needsRetirement SavingsFundsStudent LoanJose Rodriguezdo not pay allowance for good behavioremployer offered life insurancelower mortgage interestsuccess8 month safety netsmall changes 401Kdear suzeHoliday Seasoncar loanprovider of financial supportget over life insurance phobia2015 financial roadmapInterestcredit reportinsurance yearly reviewstudent loan repayment planFinancial Awarenessfull retirement agecar buying mistakeshigh premiumsMoney-Savingmanage student loansinsurance mistakekeep a scheduleGiftdebtreplace permanent life insurance with termstudent loan repayment estimatorprotect your familyCivil Rightspercentage men widowed 75-84big results at worst still pay 75% benefitLifestyleUniversity of IllinoisSandy Hook Promisepaying for collegeloved ones dependent on incomebuying a carFederal Funds Ratepaid vacationEasy Life Insurance only offered while employed don't do five year car loanemployer funding HSASuze OrmanMarlo ThomasFRAAshley Springerstudent loan repaymentSuze changed my lifeinterest on student loansFinancial AdviceCNBCbill paying prioritiesdoctors in networkUrbana-Champaignretain separate credit cardsHDHP's are good for youSuze Orman ScholarshipYoung Adult Wall Streetavoid burn outhigher insurance deductiblecostly insurance mistakefinancial independenceForbesCredit Card Interest Ratemonthly benefit roth irawould you decline a bonusWarner Bros Television GroupSpendingCommunication Skills 3 step financial road mapage appropriate choreAccuQuote.comFinancial Cliffdeath benefit needs for familysame sex marriage band end Floridaspecial saving accounttelevision hostEmergency SavingsHow To Build Credit401(k) Contributionsfinancing car doctor no longer in networkLTCpush yourself to save more for retirementsavingsAlarm Clockmake saving a pleasureultimate compounding giftFinancial Educatorverify retirement plan with HR or plan sponsorHDHP's are not badchildren under 18president ObamaGraceCollege of Veterinary Medicineemergency fund Phyllis Shelton expert long-term careFinancial Solutions For Youdon't ignore open enrollmentdo you need life insurancecredit cardterm insuranceLong Term Care shoppingunexpected expensestretch out haircut appointmentsCredit scoreRetirement Incomehigh deductible health care planFree Debt EliminatorMoneyretirement accountsCommencementinterest capitalizationGoodbyevalue moneypermanent life insurancegrandchild summer job IRA contribution8 month emergency fundapproved medical 100% tax-freeswitch to roth 401(k)home ownershipAmericans don't use all paid vacation timecut monthly cable billconsider roth 401(k)borrow each year, capitalization is going to pile up IRA contribution gifted moneyGay CouplesForeclosureincrease retirement contribution rateChanging Livesprotect loved ones

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
© 2015 Suze Orman Media Inc. All rights reserved.
 |  Search  |  Sitemap  |  Privacy  |  Terms
Sign Up For E-mail Offers
Open Panel
Close Panel