Sunday, April 2, 2017

the price of equality

For many same-sex couples, equality comes at cost
Excerpt: The Supreme Court decision last year that led to federal recognition of gay marriage means married same-sex couples can receive the same treatment and benefits as heterosexual couples. But equality sometimes comes with a price. For the first time this year, married same-sex couples must file federal income taxes as married, either jointly or separately, and that means many will get hit with the so-called marriage penalty, the term for higher taxes that married couples often pay. The marriage penalty is the result of the combined incomes pushing filers into higher tax brackets and most often affects couples in which each partner earns about the same.

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