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

is it necessarytelevision hosthigh FICO scorelong-term care premiumscredit reportstandard ratewives should be involved in retirement40% toward financial goalstaycationfamily save at least $100 monthlymax employer matched 401(k) contributionautomate student loan paymentsnot gender specific term life insuranceBankPersonal Finance15 year mortgageBill and Pennyadd teenAmericans don't use all paid vacation timeretirment savingsrefinanceFinancial Solutions For Youcredit utilization ratedon't spend death benefit 20 to 25 times annual incomechildren's bookidentity theftpaying for collegedebt freeno fee transferstudent loan debtrequired disclosureno apologySchool of Social Workcostly legal better loan ratesGoodbyeTeachsave moneyhome ownershipsave US Tax Codepay high rate off firstSuze Ormanspecial saving accountresponsible with moneyRevocable Trust10% donate to charityeight month living expense HDHP's are not badfour steps to retirement savings better loan dealsFederal PLUS loancar loanhousing marketproperty taxhigh down paymentmortgage brokerknow before you owedebtcollege graduatecredit carddental savings planroth irapublic service career student loan repayment escrowinterest on student loansderailed planBankruptcykids schedule paymentspay 100% cashhome budget after tax costloan no longer than 36monthsaffordable premiumwomen outlive menlife insurance name trust as beneficiaryage appropriate choredental discount planbuy home you can afford20% equitybuying car 2016Mass Mutualemergency fund savingsno retirement funds for down paymentjanuary billsSelfishovercome financial fearsRevocable Living TrustEasy Life Insurance Gay Couplesfile asapInfluential Celebrityzero rate transfer dealsPrime Rate Rise 2015highest possible benefitborrowing plan Changing LivesInfluentialsLong Term Care shoppingback door Roth IRAnegotiate points with bank or sellerHoliday Shoppingreduce interest rateSpendingmarriage financial responsibilityhome buying budgetGiftgay marriage ban end Florida raise your deductiblehealthy retirement weightpay credit debt ASAPUrbana-Champaignlow mileage discount2015 record year car saleslong term goalHDHP/HSAcan you afford itsavings pleasurepurely financial standpointFICO Scoreunexpected expenseapproved medical 100% tax-freemeet monthly summer job match income contribute household expenses Lovemax benefit coveredInvest for savings growthmortgage disclosureRichraising mortgage rates doctors in networkSave Us MoneyAshley Springer8 month safety netlong term careSuze is my biggest mentorhealthy teethinsurancealways use all paid time offterm insurancedental insurance would you decline a bonusRetirement SavingsWashingtonCredit scoreLong Term Care Insurance teensNew York Lifepaid in fullno late fee shop online guaranteed level term policyUniversity of FloridaFederal Funds Ratecharges on credit card30 year mortgage death benefit needs for familyhome insurancecouple financesalternative FICO scoreNewtownraise insurance deductibleHigh Credit Scoregraduationget the most out of social security ETF'sDurable Power of Attorney for Health Carekeep a scheduleincrease emergency savingsincreased auto insurance premiumlive below your meansraising interest ratesOne Wallet At A TimeMoneyheartacheFixed Rate Mortgageno splurge enjoy saving Final Goodbyeloan big picture COLAIRA contribution gifted moneypay down student loan debtSuze Orman spouse Kathy Travismoney vowsleave a legacydon't ignore open enrollmentpay down car loanARMsmall changes 6 month waiting perioddangerous retirement planStaffords this year have a fixed 6.8% interest rateHSA tax savingsSelectQuote.comtoo expensive schoolautomatic paymentStudent Debt Crisisone credit cardHow To Build Creditpush yourself to save more for retirementsocial security not going brokecut monthly cable billCredit Card Rate Increasemonthly benefit stretch out haircut appointmentsLong Term Care premiumsdoctor no longer in networkletter to suzefinancial concerndream schoolsuitableavoid burn outlower interest ratetax refund fraudshort term goal schedule vacationFiscal Responsibilitystudent loan repayment planFundsGracephysical healthloan necessity401(k) Contributionsdon't buy wantsbetter terms3 step financial road map2017 TaxessuccessAARP Social security calculatorshorter payback periodpeace of mindpowerfulWillLTCi ASAPSuze approvedborrow each year, capitalization is going to pile up store credit cardsinsurance mistakesavingsexercise reguarlypermanent life insuranceSuze changed my liferepay student loansstrained relationshipemployer funding HSAhealthy youlower overall drug costdepreciating asset Financial AdvicetaxesHDHP financial independencepoint cost offset by savingshigh premiumsConventional loan PMIdon't use allowance as bribeadult childrenHDHP'spositiveMarlo Thomasstudent loan repayment3% debt transferred women longer life spanpay off debtreduce monthly paymentsame-sex marriageprotect your familykid borrow firstdear suzechildren under 18dangerous money season19 years cash flow problemTelepicturesYoung Adult LifestyleRetirement Incomemortgage20% down paymenthigher monthly paymentconfidentmoney-aware childcostly insurance mistakeForeclosureFinancial Educatorat worst still pay 75% benefitCommencementmortgage interest tax deductionearn allowancecredit unionpaid vacationfocus on needssecured cardcollege studentlower mortgage interestpremiumclosing disclosurePay Off Debt Before RetirementFICO credit score credit card mortgageschool protect dependent Financial Awareness Video FestivalHigh FICO Score = Better Ratetake actionplanhome loan credit score below 740 healthy gums8 Rulesteens and moneyNew american Dream Legal GuardianFederal Reservecar buying mistakeshome related tax break bonus prescription tier2015 financial roadmapwomen live longer50 over 50adjust allocations yours, mine & oursopen enrollment review CD'saccelerate dental workbest loan deal value moneyco-sign PBS Specialvalentines day4 Must Have Documents only refinance if it payscalculate dependents annual income needsultimate compounding giftFinancial Power of Attorneylower premiumpay interest while in schoolExhibitiondebit cardfocus on new truth secure creditincrease retirement savingsCNBCwomen long term carereduce withholdingAmy Lacyetcnbc alarm clockForbes Top 10Veterinary School10 year repayment plan lousy investmentaffordabilityEric Dodge Financial Clifffile taxes quicklyretirementonly offered while employed financial goal phraseignore 6 month grace period compare provider pricingsame sex marriage band end Floridahealthy aging is it necessary?become member balance transfer buying a cardon't defer interest paymentsCPI-WworkaholicCiti Simplicity Card is it kind?8 month emergency fundbest interest ratesteach your child good money habitsMust Have Documentsno private loanbe true to yourselfCivil Rightsis it true? face your financial fear20% down payment avoid feesgrandchild summer job IRA contributionRoth 401(k)multiple lendersMost Influential Celebrities ListstudentPost-Divorceno waiting periodemergency fund unsubsidized Stafford loanengaged in financesjuggle multiple financial goalsreferrals automatic withdraw to savings HDHP's are good for youPhyllis Shelton expert long-term caresidelinedbe good exampleSuze Orman ScholarshipFinancial Systemspeak new goallow-cost index mutual fundEmployer Matched Contribution2016 adjust withholdingfraudulent return15-year refinance deal3 bucket approachretirement plananticipated salaryMinor Children big results be kind to yourselfARM Cautionrising home priceswaive home inspection bidMoney-SavingWarner Bros Television Grouploan is gift!00% tuition paidclosing feesstudent loan repayment estimatorcost of capitalization calculatoradvice for college graduatesoverspend on nights outAlarm Clockcontribution setup automatic savings withdrawbest interest of investorMoney Marketverify wellness screening and programsOverspendingidentity fraudlife insurancefinancial aidlong-term care Wall Streetrent vs buy2016 adjust estimated taxtax ID theftresponsiblecommunity collegerefundannual cost of living adjustmentnot enough life insuranceno negativityprovider of financial supportHoliday Seasonbad decisionsno tax on withdrawlscut monthly cellular billtraditional vs roth 401(k)low down paymentSwap Older Annuities or Life Insurance home buying mistakesteach importance of helping othersreal estate mistakesallowance taskpublic service loan forgiveness programincentives for health care wellness screeningemotional stakescomparison shoppingmarriage inequalitybad retirement planningFree Debt Eliminatorquick closingAuto Savings do you need life insuranceearn more on savingsback-to-school budgetget health insuranceemployer offered life insurancespring summer create new truthiffy incomeCombo Insurance Productspreexisting condition not coveredgift up to 14,000Inflation BenefitCollege of Veterinary Medicinecommunity bankUniversity of Illinoispercentage men widowed 75-84Jose RodriguezFinancialmanage student loansfinancing car Death Benefitlowest cost fund optionBaby Boomers20 year level term Financial Gift Cliffpay more than minimumpercentage of women widowed 75-84Adequate Auto and Home InsuranceMortgage Credit Availability Index401KFederal Stafford loansocial securityfiduciarygift not loanhigh credit score discountFRACredit Card Interest Rateswitch to spouse coverageForbesnear historic lowsprofessional advisorhome buying seasonprotect and provide for minor child low credit scoreget over life insurance phobiaLTCworst financial mistakeThe Suze Orman ShowHearthealthy retirement blood pressureno interestcar leasingfinancial argumentsorigination feesmaintain standard of livingfederal student loan deferment higher insurance deductibleAccuQuote.comreal estate marketverify retirement plan with HR or plan sponsordon't extend mortgage insurance yearly reviewretain separate credit cardsdon't derail retirement savingsholiday spendingoverspend on dining outno private loansitemized deductionFHA loan feesnon conventional routeburn outSuze Orman's Money Warscompare monthly expensesoverspend on giftsInterestmonthly dental insurance premiumallowanceconsider roth 401(k)AARPdo not pay allowance for good behaviorlet them have 50% controlpresident Obamastay positivewrite new goalStudent Loanstandard deduction no sneaking in fees20 to 25 times annual incomeunder 18 financial giftSandy Hook Promiselower ratefull retirement agerequire chore in exchange for allowancedon't cover cosmetic dentistrytitle insuranceclosing costs 2% of loanGay Rights740 credit scoreEmergency Savingsdon't charge a pennygift grandchild IRA contributionbudgetLTC shoppingbreakdown projected monthly housing costbuy homeCommunication Skills high deductible health care planage appropriate goalsconfident of solutionCory Bookernew carPrime Rate Increasesocial workritual scheduleHolidaysocial security never insolventFinancial Awarenessfinancial fearseliminate credit card debtprotect loved ones Student DebtcommissionsMotherSatisfyingno life insurance financially irresponsibleuniversal college accessone annual feeStock InvestmentsSandy Hook Elementary Schoolretirement accountslearn good financial choicesrolloverGiftsmake saving a pleasurethree year car loanswitch to roth 401(k)raise deductiblesbuy down mental healthgrandparent IRA contribution mobile appBeautycredit managementdon't blow tax refund3 savings buckets replace permanent life insurance with termloved ones dependent on incomeFICO at least 720Vital Documentsdon't do five year car loanbill paying prioritiesget credit cardcommitmax employee matchinterest capitalizationinitial tax break increase retirement contribution rate


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
© 2017 Suze Orman Media Inc. All rights reserved.
 
 |  Search  |  Sitemap  |  Privacy  |  Terms
Sign Up For E-mail Offers
Open Panel
Close Panel