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A Weblog of Centrist Voices in American Politics |
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March 13, 2005Gays And PrivatizationHere's a perspective on Social Security privatization which claims it would be beneficial to gay couples.
This is the sort of out-of-the-box perspective that is bound to make Republican proponents and Democratic opponents uncomfortable. Posted by rickheller at March 13, 2005 09:59 PM Comments
I've found it pretty amusing so far that the Dems keep opposing things that would make SS more progressive. I sometimes feel like we've stepped into the rabbit hole. Posted by: Tully at March 13, 2005 11:00 PMI am not aware off any Republicans who are proposing that gays be denied the right to inherit so the comment that it would make Republican proponents uncomfortable seems like a cheap shot. It could also be seen as one less reason to support gay marriage because their would be no limit as to who could inherit benefits, in which case many Republicans would be pleased. Posted by: ROA at March 14, 2005 01:18 AMUnder existing law, if my wife is the beneficiary of my IRA, she can assume it as her own upon my death with no tax consequences. However, if the beneficiary is a non-spouse (brother, cousin, friend, lover, etc.), he cannot assume ownership of my IRA upon my death. He must begin liquidating the assets of that account within a prescribed period of time. So, no, privitization of Social Security may not be beneficial to gay couples (at least not under existing law). Posted by: Steven Brown at March 14, 2005 07:58 AMROA, Believe me, if the right Republicans (pun intended) catch wind of this, they will make a stink of it. Poor Jerry Falwell...he may have to re-think his allegiance to W. Posted by: AH at March 14, 2005 02:38 PMTotally peripheral: One of my favorite cartoons from the gay marriage debate is a reporter asking a legislator about his stand on gay marriage. The legislator rants that he's against it. The reporter then says he'll be happy to report that the legislator is in favor of sex outside of marriage.... Posted by: Tully at March 14, 2005 05:46 PMTully, I love it! LOL! Unfortunately, that stance wouldn't entice voters, thus the chance that it would ever be adopted...lol. Okay, I'm cynical. Posted by: AH at March 14, 2005 06:24 PMSteven: You may be right about the tax implications of privatized accounts being similar to IRAs, but that would negate one of president Bush’s selling points to blacks. Since they have shorter life spans, the current system cheats them out of retirement benefits where private accounts would enable them to pass on any remaining funds to their heirs. AH: As far as Jerry Falwell is concerned, unless he is currently opposed to gays being eligible to inherit he will have a difficult time justifying prohibiting them from inheriting the remains of private accounts. If private accounts aren't fully inheritable as transfers to the chosen beneficiaries' private accouts, they will probably be a non-starter. IRA-type handling of inheritability is probably not an option in the political sense. A non-spousal inherited IRA is treated differently than a spousal IRA, and the rules can be very confusing. Posted by: Tully at March 14, 2005 11:16 PMThe article is interesting because the author outlines the political consequences for the Dems and Repubs. He makes a pretty compelling case. But, as always, nobody gives a crap about the gay community. Posted by: Meredith at March 15, 2005 02:45 PM |
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