Wednesday, June 11, 2008

Same-Sex Marrige May Boost California's Economy

When California's Supreme Court overturned the state's ban on gay marriage many same-sex couples rejoiced. Now California as whole has a reason to rejoice; same-sex marriages may stimulate the economy by adding hundreds of jobs and millions of dollars.

A study done by William Institute at the University of California, Los Angles Law School, projected that gay couples would spend $684 million dollars on wedding services in the next three years. The study also projected that 100,000 in-state couples and 68,000 out-of-state couples would get married in this three-year period. All of these marriages mean a tax revenue of $64 million and $9 million in marriage licence fees.

Social conservatives can say what they want about the morality of same-sex marriage, but they can't deny the economic benefits of allowing these unions. Imagine, hundreds of millions of dollars generated out of people's happiness - that's a wonderful thing for the state of California.

(Article originally published in Business Week.)

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