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Old Dec 6th, 2012, 08:19 PM   #1
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LGBT people make more money and are better with money than straights in USA.

After some bad gay news yesterday, I decided to counter that with some good news today.

Gay People More Financially Secure Despite Unique Barriers: Study
http://www.huffingtonpost.com/2012/1...n_2249677.html

The gay, lesbian, bisexual and transgender community is in better financial health than the rest of the country on average, a recent study found.

Not only do gay people earn more than the average American does, gay people are more likely to be employed, they have more money in savings and they are better at managing debt, according to a Nov. 14 survey of more than 1,000 gay, lesbian, bisexual and transgender people by Prudential.

The average LGBT household earns $61,500 annually, which surpasses the average national household income by more than $10,000. Unemployment is also lower within the LGBT community. Only 7 percent of respondents reported to be out of a job, while the national average stands at 7.9 percent. When it comes to putting away money for the future, gay households save on average $6,000 more than the national average. Gay households also have $4,000 less in debt.

The results are encouraging given the number of financial hurdles gay people face in today's political climate. The 1996 Defense of Marriage Act (DOMA), which bans same-sex marriage from being recognized at a federal level, is one of the main factors that inhibits financial affluence among gay people.

Despite the fact that gay marriage is legal in a number of states, under federal law gay married couples are prohibited from filing joint tax returns. A gay person is ineligible to collect a partner's full Social Security payment after he or she dies. Divorce also generally costs gay couples more.

Financial constraints aside, gay people tend to be highly educated and live in more affluent areas of the country. According to the Prudential survey, 50 percent of respondents said they have at least a bachelor’s degree and almost 50 percent lived in big cities or big city suburbs.

That said, only 14 percent of respondents indicated they feel well-prepared financially compared with 29 percent of the general population.

On Nov. 5, Washington joined the ranks of six other states and the District of Columbia that have enacted laws or issued court rulings that permit same-sex marriage. LGBT residents in states that permit same-sex marriage were found to be more confident financially than those living in states with no legal relationship status, domestic partnerships or civil unions, according to Prudential.
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Old Dec 6th, 2012, 08:29 PM   #2
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Re: LGBT people make more money and are better with money than straights in USA.

Of course, this study is sort of bullshit. It's sort of bullshit because this study doesn't really take into account poor LGBT persons. And it doesn't take into account closeted LGBT persons, which would be MOST gay people. MOST gay people are closeted to one degree or another. Particularly in conservative areas or conservative companies/careers.

Only 50% of LGBT persons are out at work. So this study fails quite a bit. But what it does show is that the gays who are out, aren't poor and completely disenfranchised, make good money. Here are some reasons:

1) We (gays as well as our allies) tend to be more attractive than the average bigoted heterosexual. Attractiveness is a major component to getting a job.

2) LGBT persons and allies are significantly more educated overall than homophobes. So, more education means more money.

3) Since the federal government discriminates against our community, we have to be smarter with our money to skirt the discrimination we face. We are more economical with our money.

4) Rich gays tend to live in affluent areas. Affluent areas have better economies and more opportunities with less discrimination. Gays in conservative areas often flock to these affluent areas and in turn gain the benefit of being able to be gay without institutionalized discrimination.

Affluent areas also tend to have many more gay/pro-gay companies that promote to the gay community. Which means greater opportunity for gay people in these areas.

5) Careers/companies that are pro-gay have a lot of money in them.

Any other reasons you would have for this? These numbers are supposedly similar worldwide. We get better jobs and make more money and are in better financial situations. Leave your thoughts below.
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Old Dec 6th, 2012, 08:56 PM   #3
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Re: LGBT people make more money and are better with money than straights in USA.

And, about 90% of those gay Republicans are white. And I'd venture 70% are men, at least. And is that a coincidence? No.
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Old Dec 6th, 2012, 09:04 PM   #4
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Re: LGBT people make more money and are better with money than straights in USA.

I don't know, for every couple who manages their money well, there are heaps more who spend it like water and have tons of debt. A lot don't have children and that does make a big difference, or when they do, they do it when they can afford it unlike a lot of straight couples who get knocked up.
And a ton are willing to do webcams from home to make extra money and are uninhibited about sharing their bodies for profit.
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Old Dec 6th, 2012, 09:19 PM   #5
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Re: LGBT people make more money and are better with money than straights in USA.

Quote:
Originally Posted by Williamsser View Post
That's why 25% of gays are Republicans. That might not sound much, but compared to other minority groups that is a significant number.
because they are happy to let others fight for their rights for them
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Old Dec 6th, 2012, 10:03 PM   #6
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Re: LGBT people make more money and are better with money than straights in USA.

Quote:
Originally Posted by Helen Lawson View Post
I don't know, for every couple who manages their money well, there are heaps more who spend it like water and have tons of debt. A lot don't have children and that does make a big difference, or when they do, they do it when they can afford it unlike a lot of straight couples who get knocked up.
I mean, the gay couples I know, spend money. Especially the gay couples I know in New York. They get money and they spend money. But they can do it, because their state laws are not anti-gay. They have backup. The gay couples I know are older and have money in the bank, and don't have kids.

Most gay couples don't have any backup. Thus they are forced to be economical because they're disadvantaged. I think people tend to think of gay couples as almost bourgeois. And that we're all super cultural, super trendy, in some cases very transient, or at the very least people who flock to a select 8 cities on the map and live in our self-made ghettos. That mentality is very old-school, and mostly false.

This study does take into account children in it's data and manipulates the numbers to include that. But only like 24% of straight couples have a child in the household. Not much different than the average gay couple with children. But same-sex couples who have kids aren't making a mistake and are settled in life/love/financially.

Quote:
Originally Posted by Helen Lawson View Post
And a ton are willing to do webcams from home to make extra money and are uninhibited about sharing their bodies for profit.
So true. But that extra money often goes into drugs anyway. But if you're scared about getting a job due to discrimination, or you just are too lazy to find work, gotta take advantage of what you got.
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Old Dec 7th, 2012, 02:28 AM   #7
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Re: LGBT people make more money and are better with money than straights in USA.

then I might not be rich like them, but then I have more income than normal people
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