Suze Orman May Leave Florida Over Gay Marriage and Taxes
Orman currently lives in Fort Lauderdale with partner Kathy Travis, but the tax breaks that could come with federally recognized marriage could entice her to move elsewhere. Florida leaders should be concerned that Orman may not be the only wealthy gay person to do so.
"Currently I am a resident of Florida ... and I have substantial wealth and I pay substantial taxes," Orman Told MSNBC's Alex Wagner according to the Huffington Post.
"I would be more than happy to move to New York or California if I could get married and be recognized on a federal level. Because I want to live in a state that validates me, and I would validate them with my money."
Currently the federal government recognizes no gay marriages, so gay couples who marry in states that allow it miss out of the federal tax breaks that are afforded to straight married couples. An overturn of DOMA would likely lead to extending those tax breaks to gay married couples.
Because Florida has no income tax, the practical question of tax breaks on the state level have been a moot point for many gay couples in Florida. Though that might be changing if federal tax breaks come into the question. It's also worth pointing out that two other states that don't have individual state income taxes allow gay marriage: Washington and New Hampshire.
If it makes enough financial sense, don't be surprised if other wealthy gay couples start to think about picking up and moving as well. Florida's dismal record on gay rights otherwise certainly doesn't help.
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