This week, the Supreme Court of the United States discussed and debated the ban on same sex marriage, and decided not to overturn it.
Moral and personal values aside, there are some very concrete economic implications of legalizing same sex marriage to consider. It's estimated that legalization of gay marriage would spark a $9.5 billion boost in the wedding and divorce industries. Municipalities would also see a boom in revenue, as applications for marriage licenses in many areas would skyrocket.
After hearing so much about this debate from a moral standpoint, it's refreshing to see it from an economic standpoint. Personal beliefs aside, there's no denying that a lift on the same-sex marriage ban would be a positive action for the American economy.
I completely agree with this. Economically, same sex marriage would increase expenditure on weddings and wedding complements like marriage licences and what not. Even though this is looked at as only morally and beliefs, this should be brought up about what it could do for our economy as well.
ReplyDeleteI agree with this as well. Why does it matter what other people do with their lives. People need to know that from an economical point of view on this topic, it could help our economy recover faster. However, changing peoples beliefs and morals on this topic will be quite the challenge. It will be interesting to see how this affects our economy in the future as well as how citizens react to the final decision.
ReplyDeleteThe amount of activity generated from this legislation is great from a numbers perspective (and from a rights perspective too, but that's another topic altogether). However, are there any figures on how much the revenue the government would be missing out on due to the tax breaks involved with getting married and having children? Although I doubt it is as much as the amount of economic activity; I'm just curious what the ratio between the two values are or if the amount is significant.
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