Achievable Measures. I return to the topic of pushing for achievable victories in Congress that will improve the status and well being of gay citizens, as opposed to sweeping gay-rights measures with little, if any, chance of becoming law. One example: I just read in a tax-advice newsletter that certain proposals regarding Individual Retirement Accounts (IRAs) are likely to be debated in the upcoming Congress, including "Allowing rollovers for non-spouse beneficiaries. Current law does not allow this."
If I understand this correctly, you can currently leave the
funds in your IRA account to a non-spouse beneficiary, but they"ll
have to cash out the IRA rather than maintain the funds in a
tax-benefited retirement account. Income taxes also have to be paid
on the inherited proceeds of a traditional IRA. A law change could
allow beneficiaries to transfer the inheritance into their own
IRAs, and to do the same with funds inherited from a 401(k)
plan.
As the newsletter puts it:
When you add a possible repeal of the estate tax to the above mix, it amplifies the benefits of leaving more IRA funds to beneficiaries who can inherit them estate tax free.
Don't smirk; this sort of common-sense measure could make a big difference in the financial well being of a great many surviving gay partners. Yes, it would be better to have legal gay marriage, or even federally recognized civil unions. But that's not going to happen anytime soon; reforming some of the hundreds of laws that disadvantage gay partners relative to spouses is something that CAN be done, law by law. And one of the biggest such laws involves Social Security benefits, which can now only be inherited by a spouse. You contribute year after year throughout your entire working life, but if you die unwed in the eyes of the law, your partner gets nothing. Enacting personal (that is, privatized) Social Security accounts that you can leave to whomever you choose would be a godsend to many gay survivors (ironic, isn't it, given the adamant opposition of left-liberals to meaningful Social Security reform).
Do such steps risk "weakening marriage"? To some extent, yes.
That's unfortunate. If social conservatives would wake up and
support same-sex marriage or even marriage-equivalent civil unions,
this wouldn't be an issue. Until that day, it's important to work
toward increased legal equality in vital areas such as inheritance;
it might even put pressure on the social conservatives to change
their tune.
--Stephen H. Miller