Legalizing same-sex marriage is good business
Analysts and government experts expect long and short-term economic benefits from June's Supreme Court rulings.
The Supreme Court's ruling that the Defense of Marriage Act is unconstitutional could economically benefit most Americans, no matter their sexual orientation.
The short-term benefits are pretty obvious. The gay wedding market, for example, has grown significantly over the years, creating new business opportunities for hotels, resorts, caterers and photographers.
And in 2012, a year after New York legalized gay marriage, New York City announced same-sex marriages there had generated about $259 million, as well as an additional $16 million in city revenues.
Reuters notes that the decision will directly impact gays and lesbians already in state-sanctioned civil unions and marriages by offering federal recognition of those unions. It will also bring those couples "into a new and potentially lucrative world of shared tax, retirement, estate and employee benefits."
Or, as financial adviser and author Debra Neiman told the wire service, "it will be less costly to be gay."
Government reviewers and other observers say we should expect some long-term economic positives as well. A 2004 analysis by the Congressional Budget Office, for example, notes the legalization of same-sex marriage across the United States would bring a small but noticeable increase to federal tax revenues.
There's also the fact, as pointed out by Slate correspondent Matthew Yglesias, that married people in general do better economically than their unmarried counterparts.
Many big companies also see gay marriage as good business. Blogging on the PBS Newshour website, economist M.V. Lee Badgett noted that Google (GOOG), Apple (AAPL), Verizon Communications (VZ), Walt Disney (DIS), Viacom (VIA), Nike (NKE) and other corporations signed friend-of-the-court briefs regarding the Supreme Court's arguments on the Defense of Marriage Act and California's same-sex marriage ban -- also tossed out by the court on Wednesday.
"Those employers argued that they want to recruit and retain the most creative and productive workers to make their businesses competitive," Badgett wrote, "and that includes lesbian, gay, bisexual, and transgender (LGBT) workers. They want their LGBT employees to be able to focus on their jobs, not on dealing with the stigma and inequality that creates problems for their families."
Morality lays the foundation for economics and when this foundation is compromised, it's only a matter of time before the entire house of cards falls.
No society has ever lasted for long when morals give way to economics or pressure from fringe groups.
God help us.
Governments have no place in marriage and should not be issuing marriage certificates to anyone. The government’s roll should be only to issue a civil union certificate (a legal binding document) to all who seek one within the governments’ rules. All who are joined in a civil ceremony (of which marriage is one type) should be bound by all the same laws, the good and the bad that have traditionally been a part of a marriage.
No government has any right to dictate the meaning of the word marriage, married or matrimony. That right only should belong to religious organizations and they only, should have the right to decide who is married in there eyes, and the government has no right to control that decision.
No one should receive government spousal benefits unless they are in a legal and binding committed relationship. Corporations should be free to set there own rules beyond a civil union regarding extending benefits and should not be vilified because of those decisions.
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[BRIEFING.COM] The stock market ended the Thursday session on a mixed note ahead of Friday's nonfarm payrolls report for February (Briefing.com consensus 163K). The Dow Jones Industrial Average (+0.4%) and S&P 500 (+0.2%) posted modest gains while the Nasdaq Composite (-0.1%) lagged throughout the session.
Equities began the trading day on an upbeat note following comments from the Bank of England and the European Central Bank, both of which reaffirmed their commitment to ... More
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