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DOMA & Financial Inequality - Suze Orman, Financial Expert, on the Cost of Banning Gay Marriage

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Published on Feb 23, 2013

Suze Orman appears on CNN to discuss the unfair FINANCIAL burden that DOMA (Defense of Marriage Act) has on gay married couples.

What most people don't realize is that despite 9 states and the District of Columbia legalizing same-sex marriage..... the Federal Government has not legalized same-sex marriage. In fact, they have a federal law specifically dedicated NOT to recognize same-sex couples at the federal level (DOMA).

Suze explains the challenges that married same-sex couples experience due to their marriages not being recognized. These include:

1) Adding a same-sex spouse to a health insurance policy. -- income taxes will need to be paid on that imputed benefit. (at an average cost of $5,000 - $9,000 / year in taxes)

2) Estate Taxes - same-sex married couples will lose over 50% of their estate to estate taxes. Compare this to a straight married couple who would not owe 1 penny in estate tax if a spouse were to die.

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