Allowing same-sex marriage could earn NY 400 Million Dollar

[Serafina]

Study about the potential fiscal impact of same-sex marriage in the State of New York

In this study we drew on U.S. Census Bureau data from New York residents and out of state same sex residents as well as a previous study done on New York by the Office of the New York City Comptroller in 2007 along with studies done by the Williams Institute of the UCLA School of Law on states such as Rhode Island, New Jersey and Delaware. While some estimates are conservative and all are based on assumptions for future spending, the following has been determined

Recognizing marriage between same sex partners in New York State would create $310,567,652 in increased revenue and economic activity during the next three years, with potential savings of $80,848,457

The estimates boil down to:
- ~283 million in from wedding revenues and marriage tourism. Not a direct earning for the state, but stimulating the economy
- ~22 million in sales tax revenues
- ~4 million in marriage license fees. Granted, that will also come with an increased cost due to the work that has to be done.
- ~250.000 from hotel occupancy taxes
- ~80 million in savings from public assistance. Put simply, a married person is less likely to receive public assistance, or will receive a smaller amount.
That's a stimulus for the economy of nearly 300 million $, and more than 100 million dollar in direct earning for the state of New York.


Also, the study estimates that same-sex marriage had a positive economic impact on the USA of about 1 billion US-dollars over the last three years.

Of course civil rights should not be dependent on economic arguments, but still - every bit of leverage counts.

[Crossroads Inc.]

Which is yet more proof that the Modern GOP turely do not care on jot about "fiscal responsibility" or balancing a budget.
If you told them we could get rid of the whole debt and start turning a profit in America, and all they had to do was pass Gay Marriage, they would fight against it tooth and nail.

[NeoGoomba]

This should cause a stir here, since currently Governor Cuomo just yesterday said our state needs to make up a little over $400 million in its budget this year or he will have to start cutting state jobs (about 9,500 IIRC), and his trial "contract" for unions to make concessions to save money bombed horribly, as the "test union" rejected it outright.

Granted, it isn't money directly in the state coffers, but the fact that NY needs roughly equivalent dollars should provide extra ammo for civil rights advocates.

[mr friendly guy]

This is slightly tangential, but would US citizens fly to some other countries which already recognise same sex marriages, and how much would their spending stimulate that other country's economy. Interesting thought, as the most obvious choice for US same sex couples would be Canada.

[Darth Fanboy]

This is slightly tangential, but would US citizens fly to some other countries which already recognise same sex marriages, and how much would their spending stimulate that other country's economy. Interesting thought, as the most obvious choice for US same sex couples would be Canada.

Only if said marriage would be recognized in the United States, otherwise it's just a vacation.

Addendum:

On top of that it would take a lot of tourists with the ability to afford international travel to make any kind of noticeable impact, I don't think there would be enough to have a nitceable impact one an entire nation's economy, perhaps if there was a same-sex friendly resort/community there might be a nice local boost but I then have to go back to my first point of if that marriage would be recognized in the US.

[Molyneux]

- ~80 million in savings from public assistance. Put simply, a married person is less likely to receive public assistance, or will receive a smaller amount

Idle curiosity here, but - are you certain of cause-and-effect there? I mean, is it definite that being married makes a person less likely to need public assistance, or could it be that people on public assistance are less likely to get married?

[Serafina]

- ~80 million in savings from public assistance. Put simply, a married person is less likely to receive public assistance, or will receive a smaller amount

Idle curiosity here, but - are you certain of cause-and-effect there? I mean, is it definite that being married makes a person less likely to need public assistance, or could it be that people on public assistance are less likely to get married?

Besides generating additional City and State tax revenue, the passage of Marriage Equality in New York would also yield significant savings on means-tested public assistance programs. According to the William‟s Institute, “eligibility for public assistance is measured and, therefore, dependent on the individual applicant‟s income and assets, as well as, for many programs, those of the applicant‟s family. For many programs that consider a spouse‟s income and assets, a married applicant is generally less likely to qualify for assistance than single applicants are.”20 Because same-sex couples are currently not permitted to get married in New York, they are likely to be considered “single” when eligibility for public assistance programs is assessed. “This „single‟ classification results in same-sex partners being more likely to qualify for public assistance. If same-sex couples were able to marry, however, both partners‟ income and assets could be counted in determining eligibility. Thus, if same-sex couples could marry, they would be less likely to need assistance and be eligible for assistance, since their combined incomes and assets would exceed program thresholds.”

So basically:
You are more likely to receive public assistance if you are not married, because your partners assets will not be considered, because there is no official connection between the both of you.
Therefore, an unmarried couple is more likely to receive public assistance than a married couple, if all other things are equal - especially if their income is very unequal.

Of course the factors you describe still exist, but the above is still true.

[Slacker]

As a taxpaying New York citizen (and someone who's supported gay marriage for years, but, let's set that aside for a minute here) for god's sake, Albany, FUCKING LEGALIZE GAY MARRIAGE NOW. I mean, they'll squander all that revenue buying computers for janitor's closets in upstate New York while the city and Long Island have to lay off teachers and close parks, but, still.

My state, mismanaged? What makes you think that?