Are We Being Gouged by Being Gay?

[kweerwolf]

Federal and state tax laws routinely gouge gay couples in a variety of ways, via inequities in the estate tax, income tax, inheritance tax or gift tax. And when it comes to other important financial issues, like housing, or bequeathing estates, or nursing home care, gay couples must use contract law as the flimsy, threadbare cover to protect their relationships. A rundown of how gay couples get hurt:

Houses. A gay partner whose spouse dies often sees their home going to a family member, as they have no rights to the house. But titling the house as "joint tenants with rights of survivorship" could guarantee a smooth transition to the surviving partner. Doing so can create tax problems. The IRS will count 100% of the value of the house in the taxable estate of the deceased, unless the surviving partner can prove their contribution, says Jennifer Hatch, managing partner of Christopher Street Financial, a New York firm specializing in financial advice for gay couples.

Employee benefits. Gay couples have to pay income taxes on the value of the employer benefits they get from their partner, such as health care coverage, something straight couples never have to pay. And gay couples' compensation packages, when the value of fringe benefits is added in, are usually less than the compensation of a married person doing the same job.

Tax planning. When it comes to gay couples, the gift tax is the gift that keeps on giving--to the government. Say you and your partner live together, and to do things right, you add her to the deed to your house. Did you know that you must then report the value of half of the house on your taxes? Uncle Sam says you made a gift under the law. Ditto for adding your partner to your bank or brokerage accounts. The IRS says those transactions are gifts that must be reported if they amount to more than $11,000 in a year. A married couple is seen as a single economic unit, so they can transfer anything between them, while same-sex couples are seen as business partners, so all transactions are deemed taxable business deals, says Hatch.

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[TaleWgnDg]

1. "Gouged" ?? Yes, one could say it that way . . .

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"Gouged" ?? Yes, one could say it that way . . . And it would be a truth.

GLBTs hold up their portion of the sky, so to speak, similarly as do straights. In other words, GLBTs pay taxes and do not receive similar benefits and privileges in laws as do straights. "Gouge," you say? "Gouge?" How about that GLBTs are discriminated against in law. How about that GLBTs do not receive due process of our laws. How about that GLBTs do not receive equal protection of our laws. Due process and equal protection that straights get each and every day without thinking about it. Without a second thought.

And without a second thought straights still -- to this day -- allow antiquated and second-class citizenship to GLBTs and their families u/ the guise of religion. A co-mingling of Church and State hindering citizens of America and their families.

"Gouged" may be a truth, but the full truth goes beyond mere "gouging" --for it goes to the heart of our constitution and its guarantee of rights. The full truth is that GLBTs are denied the privileges and immunities that are granted in our constitution. And, there lies the rub.
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