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

BankruptcyAARP Social security calculatorone annual feeno tax on withdrawlsCollege of Veterinary Medicine10 year repayment plan same sex marriage band end Floridais it true? co-sign Citi Simplicity Card Urbana-Champaignhigh FICO scorefederal student loan deferment retirment savingsback door Roth IRAbalance transfer kids schedule paymentsAmericans don't use all paid vacation timeconsider roth 401(k)public service loan forgiveness programconfidentFinancial AwarenessLTCi ASAPclosing fees20 year level term low-cost index mutual fund15-year refinance dealincrease emergency savingsEric Dodge Motherhealthy aging would you decline a bonusautomatic paymentoverspend on giftsLifestyleMoney MarketEmergency Savingsstretch out haircut appointmentsForeclosureForbesbe good exampleGifthome ownershipemployer funding HSAdon't buy wantsknow before you oweoverspend on dining outWashingtoncost of capitalization calculatorloan no longer than 36monthsmortgage interest tax deductionbe true to yourselfMoney-Savingno life insurance financially irresponsibleprovider of financial supportwomen live longerface your financial fearphysical healthinterest capitalizationTelepicturesdon't extend mortgage lower mortgage interestpay down student loan debtcouple financesCivil Rightsdream schoolPrime Rate Rise 2015savings pleasurecredit managementFinancial Cliffinsurance mistakeresponsible with moneypay 100% cashFinancial Gift Cliffunsubsidized Stafford loanFree Debt Eliminatorcontribution paid vacation8 month safety netsame-sex marriage40% toward financial goallife insurance name trust as beneficiaryautomatic withdraw to savings FHA loan feesGracemoney vowsbest interest ratesprotect loved ones buy down 50 over 50protect your familyStudent Debt6 month waiting periodalternative FICO scoreThe Suze Orman Showmeet monthly kid borrow firstFinancial Power of Attorneywomen outlive men19 years cash flow probleminterest on student loansFinancial Awareness Video Festivalultimate compounding giftprescription tier!00% tuition paidget health insuranceitemized deductionbad decisionssave is it kind?low down paymentSuze OrmanHDHP's are not badSuze changed my life3 bucket approachnot enough life insurancecompare monthly expensessave moneybest loan deal student loan repaymentmaintain standard of livingHow To Build CreditAmy Lacyetallowancelife insurancepay off debtmonthly benefit ritual scheduleBanksetup automatic savings withdrawstay positiveno interestSatisfyingincentives for health care wellness screeningBeautyFinancial3 savings buckets retirement accountsloan big picture Long Term Care Insurance Save Us Moneycommunity bankcredit unionverify retirement plan with HR or plan sponsorlower premiumPBS Specialwrite new goalcollege graduateunder 18 financial giftMost Influential Celebrities Listlow credit score4 Must Have Documents sidelinedraise insurance deductibleage appropriate goalsrising home pricesFinancial EducatorChanging LivesRetirement Incomepay interest while in schoolincrease retirement savingsdeath benefit needs for familyholiday spendingbuying a carswitch to roth 401(k)summer job match income housing marketreferrals television host401(k) Contributionsis it necessary?Exhibitionpay high rate off firstearn allowance8 month emergency fundSandy Hook Elementary SchoolAARPhome insurancebetter termsgift grandchild IRA contributionopen enrollment review reduce monthly paymentthree year car loandon't cover cosmetic dentistrysuccessloan necessityHDHP'sPost-Divorcecommunity collegereduce interest rateWall Streetconfident of solutioncharges on credit cardat worst still pay 75% benefitnot gender specific New american Dream Holiday SeasonInfluentialscreate new truthAdequate Auto and Home Insuranceovercome financial fearssocial securityHDHP financial goal phrasemarriage financial responsibilityFiscal Responsibilityemotional stakesage appropriate chorePhyllis Shelton expert long-term carefinancial independenceStudent Loanleave a legacylong term careMortgage Credit Availability IndexWarner Bros Television Grouppay more than minimumone credit cardmax employee matchlong-term care premiumsreplace permanent life insurance with termhome buying mistakesCNBCcostly insurance mistakePersonal Financeincrease retirement contribution rateadult childrenback-to-school budgetuniversal college accessignore 6 month grace period tax ID theftsecured cardSuze approvedHSA tax savingsdental insurance pay credit debt ASAPshort term goal Baby Boomerspositivelong-term care no private loanterm life insuranceRichcut monthly cable billIRA contribution gifted moneyjuggle multiple financial goalsMass Mutualfinancial argumentsget credit cardnegotiate points with bank or sellerpercentage of women widowed 75-842015 financial roadmapheartachewomen long term carebill paying prioritiesmarriage inequalitySuze is my biggest mentorprotect and provide for minor child teens and moneydo not pay allowance for good behaviorGay RightspremiumTeachpresident Obamazero rate transfer dealsenjoy saving worst financial mistakeMoneyAlarm Clockstudent loan repayment estimatorvalentines dayInfluential Celebrityemergency fund mortgageloved ones dependent on incometitle insuranceexercise reguarlyEasy Life Insurance can you afford itpaid in fullConventional loan PMIget over life insurance phobialearn good financial choicesroth iraunexpected expensewaive home inspection bidhigh premiumsSelectQuote.comdeath benefit 20 to 25 times annual incomedebt freesmall changes Commencementlet them have 50% controlapproved medical 100% tax-freeshop online guaranteed level term policyLong Term Care premiumscredit reportCOLAplancnbc alarm clockbreakdown projected monthly housing costonly refinance if it payswives should be involved in retirementcommitbad retirement planningmax employer matched 401(k) contributioncalculate dependents annual income needs401Kfinancial concernSandy Hook Promisesocial security never insolvent2015 record year car salesinitial tax break 2016 adjust estimated taxfull retirement agecollege studentbetter loan dealsHDHP's are good for youlousy investmentInvest for savings growthEmployer Matched Contributionget the most out of social security high deductible health care planmortgage disclosureFRApaying for college20% down payment avoid feesderailed planpercentage men widowed 75-843% debt transferred 8 RulesVeterinary SchoolOne Wallet At A Timeno late fee annual cost of living adjustmentInterestnear historic lowsFederal Funds Ratehome buying budgethome loan credit score below 740 store credit cardsfraudulent returnRevocable Living Trustfinancing car Goodbyestandard deduction CPI-W3 step financial road mapdon't charge a pennyFICO at least 720emergency fund savingsCommunication Skills Long Term Care shoppingborrowing plan social workemployer offered life insurancefocus on needs10% donate to charitylong term goalborrow each year, capitalization is going to pile up rent vs buyschool Gay Coupleshome related tax break bonus HDHP/HSAcar buying mistakesmanage student loansgay marriage ban end Florida Student Debt Crisistraditional vs roth 401(k)automate student loan paymentsFICO credit score credit card mortgageraise deductiblesinsurancefocus on new truth Cory Bookerorigination feesOverspendingdepreciating asset teensLTCDurable Power of Attorney for Health Carecomparison shoppingAccuQuote.comstudent loan repayment planalways use all paid time offyours, mine & oursescrowFICO Scorebe kind to yourselfCredit Card Interest RateCredit scorepoint cost offset by savingsSpendingLovesecure creditquick closingwomen longer life spanloan is giftpay down car loanvalue moneysavingsFinancial Solutions For Youadjust allocations monthly dental insurance premiumdon't use allowance as bribeswitch to spouse coverage20% equityNewtownSchool of Social Workno retirement funds for down paymentmental healthgrandparent IRA contribution Giftslower ratebuy homefinancial fearsbig results gift not loandon't ignore open enrollmentrequired disclosuregift up to 14,000University of Illinoisverify wellness screening and programsretirement planrolloveradvice for college graduatesdangerous money seasonmake saving a pleasuredoctors in networkno waiting periodstudent loan debtretain separate credit cardslowest cost fund optionlive below your meansspeak new goalLTC shoppingNew York LifeUniversity of Floridamultiple lendershighest possible benefitproperty taxidentity fraudgrandchild summer job IRA contributionpreexisting condition not covereddental savings planAuto Savings children under 18don't blow tax refundonly offered while employed doctor no longer in networkdebit cardlower overall drug costdangerous retirement planiffy incomefamily save at least $100 monthlypublic service career student loan repayment max benefit coveredUS Tax Code2016 adjust withholdingadd teensocial security not going broke20% down paymentStock Investmentsbecome member graduationmobile appbuying car 2016car leasingno sneaking in feesmortgage brokerspecial saving accountdebtbetter loan ratesterm insurancehealthy retirement blood pressuretake actionrefinancerepay student loanskeep a scheduledear suzehigher insurance deductibleHoliday Shoppingdon't spend ETF'sFundsSuze Orman Scholarshippermanent life insuranceSuze Orman spouse Kathy Travisno splurge overspend on nights outis it necessaryfile asapanticipated salaryteach your child good money habitsreal estate mistakesFinancial Systemcar loanHeartRoth 401(k)Credit Card Rate Increasereal estate marketallowance taskdon't derail retirement savingsjanuary billsinsurance yearly reviewdental discount planclosing costs 2% of loanMarlo ThomasYoung Adult letter to suzeclosing disclosureRetirement Savingsrequire chore in exchange for allowancestudentno negativityHolidaypush yourself to save more for retirementPay Off Debt Before Retirementprotect dependent do you need life insuranceSuze Orman's Money WarsStaffords this year have a fixed 6.8% interest ratepowerfulcontribute household expenses teach importance of helping othersno fee transfernew carhome budget after tax costresponsibleJose RodriguezFinal Goodbyedon't defer interest paymentscredit cardtaxesretirementForbes Top 10don't do five year car loancut monthly cellular billhealthy retirement weightstandard ratepurely financial standpointPrime Rate IncreaseFinancial Adviceavoid burn outmoney-aware childAshley Springerfour steps to retirement savings budgetbuy home you can afford

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