Updates

Financial Windfall From Marriage Equality

Forbes does the math and breaks down the economic stimulus that would come from making marriage equality the law of the land: and it is big!

As of September 2008, 52% of all same-sex couples living in Massachusetts were married; overall, the institute says, in the states that provide legal recognition, “more than 40%” of same-sex couples married, entered a civil union or otherwise have registered their relationships. On average, those couples spent 34% of what straight couples spent on their weddings. To estimate the financial impact of gay weddings were they legalized nationally, we multiplied the number of same-sex weddings by 34% of the amount straight couples would spend on such items as engagement rings, banquet halls, wedding dresses and honeymoons. Add it all up, and it comes to $9.5 billion.

Now, that money is going to states like Connecticut and Massachusetts, which have legalized gay and lesbian marriages–but it could come to New York.

Of course, the financial impacts of the wedding pales in comparison to the financial security that comes from marriage to benefit the couples–and in these economic times, no couple should be denied the financial security which comes from having their relationship recognized by the State.

This update was made on June 16, 2009 at 10:08 am . It is filed under ...to my community, ...to our friends, ...to the economy .