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

10 year repayment plan borrow each year, capitalization is going to pile up unsubsidized Stafford loanHDHP money-aware childpay down car loanbill paying prioritiesInvest for savings growth!00% tuition paidAmy Lacyetexercise reguarlySave Us Moneydon't cover cosmetic dentistryoverspend on dining outgay marriage ban end Florida loan necessity4 Must Have Documents no splurge Auto Savings Beautysocial securitycommunity bankvalue moneyverify wellness screening and programsterm insuranceStudent Debthighest possible benefitloan big picture Overspendingbe good exampleGay Coupleshome buying budgetwaive home inspection bidpay interest while in schoolgraduationUrbana-Champaignmental healthWarner Bros Television Groupultimate compounding giftshort term goal initial tax break low down paymentFinancial Advicereduce withholdingcar loanHow To Build Creditkeep a scheduleinsuranceonly refinance if it paysproperty taxclosing feesavoid burn outtitle insurancegrandparent IRA contribution better loan rateslearn good financial choiceswomen long term careCredit scoreSuze OrmanPrime Rate Rise 2015Bankfour steps to retirement savings prescription tier19 years cash flow problemcommitdebtwomen outlive menBill and Pennypublic service career student loan repayment Stock Investmentssidelinedsetup automatic savings withdrawInterestgift not loanHSA tax savingsstandard deduction positiveLifestyleFinancial AwarenessHoliday ShoppingMoney-Savinghigher insurance deductibleworst financial mistakeSpendingpay 100% cashGoodbyeautomate student loan paymentsreduce monthly paymentbreakdown projected monthly housing costis it necessaryfinancial independenceFinal Goodbyealways use all paid time offverify retirement plan with HR or plan sponsorStaffords this year have a fixed 6.8% interest rateLong Term Care shoppingcredit managementstay positivebe true to yourselfstandard rateclosing costs 2% of loando you need life insuranceconfident of solution40% toward financial goalNew York Lifeprotect loved ones AccuQuote.comGiftsignore 6 month grace period 2016 adjust estimated tax2015 record year car saleslife insurancesocial security not going brokePhyllis Shelton expert long-term caremortgage brokerCommunication Skills back door Roth IRAterm life insurancefederal student loan deferment maintain standard of livingbuying car 2016new carFRAbe kind to yourselfwrite new goalprovider of financial supportMass MutualSuze approvedBaby Boomerssavingscut monthly cable billChanging Livesmortgage interest tax deductionoverspend on giftsthree year car loan10% donate to charitylowest cost fund optionStudent Debt Crisisone annual feedon't buy wantsAARPPay Off Debt Before Retirementnear historic lowsPrime Rate IncreasebudgetFinancial Awareness Video Festivalno retirement funds for down paymentmax benefit coveredMost Influential Celebrities Listpublic service loan forgiveness programget credit cardTelepicturesSatisfyinguniversal college accessalternative FICO scoresave moneymortgage disclosureFinancial Solutions For Youdental savings plankid borrow firstmonthly dental insurance premium8 month emergency fundreplace permanent life insurance with termlower premiumno sneaking in feesFICO credit score credit card mortgageHDHP'sLTCi ASAPwomen live longerstudent loan debtFICO at least 720overcome financial fearsapproved medical 100% tax-freeWall Streetitemized deductionpaying for collegeCPI-WStudent Loancostly insurance mistake401Kcost of capitalization calculatorbetter loan dealshome budget after tax costFinancial Cliffreferrals Exhibitionnegotiate points with bank or sellerfinancial fearsschool children's bookdon't charge a pennydoctor no longer in networkSchool of Social WorkCNBC6 month waiting periodcontribute household expenses Suze Orman's Money WarsOne Wallet At A Timesmall changes women longer life spanteensprotect your familypaid vacationRoth 401(k)no fee transferbecome member low credit scoreHDHP's are good for youmax employee matchEasy Life Insurance same sex marriage band end Floridamake saving a pleasuredebit cardgrandchild summer job IRA contributionidentity fraudno life insurance financially irresponsibledo not pay allowance for good behavior3 savings buckets Forbes Top 10Durable Power of Attorney for Health CareCredit Card Interest RateCivil Rightsoverspend on nights outheartachepay off debtHDHP's are not badlow-cost index mutual fundpaid in fullhome ownershipdon't spend max employer matched 401(k) contributionSelectQuote.comemotional stakesdon't use allowance as bribe401(k) Contributions2017 Taxescompare monthly expensesis it necessary?Financial Systeminterest capitalizationdebt freeresponsiblesame-sex marriagespeak new goalrefinanceage appropriate chorepreexisting condition not coveredstudentlousy investmentidentity theftfinancial goal phrasemanage student loansAlarm ClockconfidentMoneyfinancing car not enough life insurancereal estate marketpay high rate off firstis it kind?Retirement Savingsbest interest rateshealthy retirement blood pressure15-year refinance dealno tax on withdrawlsJose Rodriguezloan is giftanticipated salarygift up to 14,00020% down paymentFree Debt Eliminatorfraudulent returnCredit Card Rate Increasezero rate transfer dealsstudent loan repayment estimatorLong Term Care premiumsmeet monthly required disclosureget health insurancepay down student loan debtnot gender specific AARP Social security calculatorUniversity of Floridasave credit unionpowerfulYoung Adult unexpected expenseSandy Hook PromiseFederal Funds Rateritual schedulegift grandchild IRA contributioncalculate dependents annual income needspay credit debt ASAPage appropriate goalsadult childrenhome related tax break bonus Long Term Care Insurance Suze Orman Scholarshipstudent loan repaymentFinancial Educatordear suze2015 financial roadmapInfluentialsMortgage Credit Availability Indexpay more than minimumGiftbuying a carretirment savingscut monthly cellular billchildren under 18comparison shoppingNewtownis it true? car buying mistakestake actiondon't extend mortgage social security never insolventsecured cardmarriage financial responsibilitypurely financial standpointcollege graduatelong-term care Teachrollovermarriage inequalityno waiting periodinterest on student loansderailed planHolidayallowance taskForbeshome loan credit score below 740 long term carequick closingrequire chore in exchange for allowanceholiday spendingco-sign Emergency Savingsdream schoolPBS SpecialFICO Scoreretain separate credit cardsMotherroth irateens and moneyyours, mine & oursreal estate mistakesThe Suze Orman Showteach importance of helping othersLoveannual cost of living adjustmentemployer offered life insuranceGay RightsFinancial Power of Attorneyfinancial argumentsone credit cardstretch out haircut appointmentsNew american Dream 8 month safety netpush yourself to save more for retirementlower mortgage interestrent vs buywould you decline a bonusGracetax ID theftraise insurance deductiblefocus on needsprotect dependent death benefit 20 to 25 times annual incomeAshley Springerfile asapRevocable Living Trustincrease retirement savingsdon't defer interest paymentssavings pleasurehealthy retirement weightCOLApresident Obamafull retirement agejanuary billsbest loan deal back-to-school budgetface your financial fearget over life insurance phobialoan no longer than 36monthsenjoy saving monthly benefit credit cardFundsForeclosureallowanceno interestsuccessSuze changed my lifeautomatic withdraw to savings responsible with moneyphysical healthFHA loan feesincentives for health care wellness screeningat worst still pay 75% benefitopen enrollment review summer job match income create new truthhealthy aging doctors in networkclosing disclosurebetter termsonly offered while employed iffy incometeach your child good money habits2016 adjust withholdingfamily save at least $100 monthlybad decisionsadd teen20% down payment avoid feesdangerous retirement plan20 year level term college studentcar leasingjuggle multiple financial goalsrepay student loansRichplandon't derail retirement savingsSuze is my biggest mentorFiscal ResponsibilityEric Dodge increase emergency savingsmultiple lendersretirementstudent loan repayment planincrease retirement contribution rateescrowCiti Simplicity Card switch to spouse coverageno private loanorigination feesprotect and provide for minor child Post-Divorcelet them have 50% controlspecial saving accountlower overall drug costUniversity of Illinoistelevision hostLTC shoppingcan you afford itfocus on new truth buy home you can affordrising home pricesdon't do five year car loanEmployer Matched Contributionborrowing plan secure creditRetirement Incomeraise deductiblesletter to suzeUS Tax Coderefundemergency fund savingstaxeshome insuranceloved ones dependent on incomemobile appadvice for college graduateslife insurance name trust as beneficiaryshop online guaranteed level term policyAmericans don't use all paid vacation timewives should be involved in retirementretirement accountsfile taxes quicklyMarlo Thomasinsurance mistakeget the most out of social security no late fee contribution under 18 financial giftbuy hometraditional vs roth 401(k)dangerous money seasonvalentines day8 Rules3% debt transferred dental discount planretirement plandental insurance College of Veterinary Medicinehigh FICO scoreearn allowancepoint cost offset by savingspercentage men widowed 75-84long term goalmoney vowshigh deductible health care planpermanent life insuranceVeterinary Schoolinsurance yearly reviewHoliday Seasonbad retirement planningfinancial concernkids schedule paymentsInfluential CelebrityCommencementdon't ignore open enrollmentsocial workno negativity3 bucket approachlive below your meansconsider roth 401(k)lower ratecharges on credit cardWashingtonMoney MarketIRA contribution gifted moneyAdequate Auto and Home InsurancePersonal FinanceFinancial Gift Cliff3 step financial road mapmortgageemployer funding HSAbuy down LTCcommunity collegestore credit cardsCory Bookeradjust allocations couple financeshousing marketreduce interest rateSandy Hook Elementary Schoolautomatic paymentswitch to roth 401(k)leave a legacy50 over 50tax refund fraudpremiumemergency fund high premiumsETF'sdeath benefit needs for familylong-term care premiumsSuze Orman spouse Kathy Travispercentage of women widowed 75-84know before you owecnbc alarm clockFinancialbalance transfer Hearthome buying mistakesBankruptcy20% equityHDHP/HSAbig results don't blow tax refundConventional loan PMIdepreciating asset credit report


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