--- title: The Financial Side Of The Marriage Equality Debate | TIME description: The Supreme Court’s ruling on whether same-sex marriages should be recognized will have wide-ranging economic impacts for same-sex couples. canonical: https://time.com/video/zM20MpLt/ og:title: The Financial Side Of The Marriage Equality Debate og:description: The Supreme Court’s ruling on whether same-sex marriages should be recognized will have wide-ranging economic impacts for same-sex couples. og:url: https://time.com/video/zM20MpLt/ og:image: https://cdn.jwplayer.com/v2/media/zM20MpLt/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: The Financial Side Of The Marriage Equality Debate twitter:description: The Supreme Court’s ruling on whether same-sex marriages should be recognized will have wide-ranging economic impacts for same-sex couples. twitter:image: https://cdn.jwplayer.com/v2/media/zM20MpLt/poster.jpg?width=720 --- # The Financial Side Of The Marriage Equality Debate > Sponsored content. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: The Financial Side Of The Marriage Equality Debate [Watch (HLS stream): The Financial Side Of The Marriage Equality Debate](https://cdn.jwplayer.com/manifests/zM20MpLt.m3u8) (2:18)  _Published 2015-06-25. The Supreme Court’s ruling on whether same-sex marriages should be recognized will have wide-ranging economic impacts for same-sex couples._ --- Jul 27, 2023 6:28 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [Lawmakers in Thailand Pass Historic Legislation Recognizing Same-Sex Marriages](/video/M23p1A9z/) ### Lawmakers in Thailand Pass Historic Legislation Recognizing Same-Sex Marriages [The Supreme Court On Marriage Equality](/video/63b4f7cw/) ### The Supreme Court On Marriage Equality [Supreme Court Rules In Favor Of Same-Sex Marriage](/video/Nk2XaZ1m/) ### Supreme Court Rules In Favor Of Same-Sex Marriage --- ## Transcript The Supreme Court's verdict on the contentious issue of same sex marriage, has wide reaching implications for same sex couples, not just emotionally, but financially as well. With this ring I thee wed. Recognizing same sex marriage unlocks a host of federal benefits for these couples. In 2004, the U. S. government Accountability Office calculated there are more than 1, 100 provisions affected by marital status. The cost of missing out on these benefits can vary greatly. But, a 2009 analysis by the New York Times found an unmarried same- sex couple could lose anywhere from $ 41, 000 to $ 468, 000. $ 68 thousand over their lifetime compared to a similar married straight couple. The benefits include social security, which pays up more for married couples. Spouses are entitled to 50 % of a partner's benefit if it's higher than their own and can receive that benefit if they survive their partner. Being married also makes it easier to officially act as a couple, allowing partners to jointly file taxes Adopt children and make medical decisions, transfer property and it's much easier to extend employer provided health insurance coverage for a spouse than a domestic partner. The latter option counts as taxable income. Filing taxes jointly is where things get tricky. And general married couples pay less in property and estate taxes than domestic partners and usually have less income tax liability. But couples with similar income levels could face the so called marriage penalty, pulling their incomes by filing jointly could bump them up to a higher tax bracket. That's something same- sex couples had to grapple with last tax season. After the court struck down the Defense of Marriage Act. Most gay couples that I've talked to have said they're so happy that they're finally being acknowledged by the federal government that this union is being recognized, they're willing to pay a little bit more in taxes. It's also worth noting that some federal programs including Supplemental Security Income and Medicaid Calculate eligibility by looking at the shared income and assets of both partners in a marriage. Getting married could force some people out of these programs. From the government's perspective, the savings from those programs will more than offset increased benefit payouts if same- sex marriages are recognized. That's according to a 2004 Congressional Budget Office report. 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