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SURVEY: The Gays Earn More Money, Have Less Debt Than Average Americans

This image is from: SURVEY: The Gays Earn More Money, Have Less Debt Than Average Americans · «Back to article

This image is from: SURVEY: The Gays Earn More Money, Have Less Debt Than Average Americans · «Back to article

    • viveutvivas

      Before the spree of self-congratulation starts, just remember that many of us are poorer than average. Even if this survey is true (questionable in the light of the Gallup poll finding the opposite), being richer on average does not make a minority more worthy, and being poorer does not make a minority less worthy. It is a shame that national gay organizations are almost exclusively concentrating on the concerns of the rich white conservative gay men who donate to them, such as marriage, and are pretty much ignoring the much more urgent needs of the many underprivileged queer people of all colors.

      Dec 7, 2012 at 8:48 am · @ReplyReply to this comment ·
    • curan

      One benefit to the marriage ban is that it is considerably more difficult for me to make a rash decision about someone that damages my finances and complicates my life.

      As much as I like underprivileged gay men, they are often rather difficult to live with. Many are the authors of their own urgency.

      With the mess that most people make of their marriages, we should be making it more difficult for anyone to start one. Perhaps an enforced 6 month engagement that forbids cohabitation might lead to more lasting bonds.

      …but, for those states that still won’t let me marry who I wish, for them we should outlaw divorce, and give them the hell they so richly deserve.

      Dec 7, 2012 at 9:17 am · @ReplyReply to this comment ·
    • fagburn

      I’m glad you added the last sentence, Queerty.

      All reliable research (ie not some silly corporate press release) does suggest the opposite – gay men do earn LESS than straight men.

      There’s an excellent website, Gay Money: The Truth About Lesbian & Gay Economics – http://blog.fawny.org/2010/11/16/gaymoney/ – that analyses over 70 research papers on “the Pink Pound” and shows this.

      More breakdown of the Prudential PR baloney here – http://www.fagburn.com/2012/12/money-money-money-lies-lies-lies.html

      Dec 7, 2012 at 10:17 am · @ReplyReply to this comment ·
    • the other Greg

      The “less debt” part is easily explained by 1) having fewer children to support, compared to straights; 2) gays living more in cities as renters, compared to straight home-“owners.”

      Dec 7, 2012 at 11:39 am · @ReplyReply to this comment ·
    • declanto

      @the other Greg: I may be wrong, but rentals in urban areas are/have been (traditionally)higher than house payments in suburbia, discounting the initial down-payments associated with both.

      Dec 7, 2012 at 12:34 pm · @ReplyReply to this comment ·
    • Tommy25

      @the other Greg I think children is the primary factor. It would be interesting if they did a study where they compared the financial situation of straight and GLBT people who don’t have children separately from those who do have children.
      Not only do children cost a lot of money to support, but they take up lots of time. People who have children have less time and energy to devote to the careers. Some of the highest paying jobs require you to work really long hours which a lot of people who have children can’t or don’t want to do. Lots of people with kids also leave the workforce for periods of time to be full time parents and thus don’t have income.

      Dec 7, 2012 at 1:09 pm · @ReplyReply to this comment ·
    • the other Greg

      @declanto: Probably true but that’s another point entirely. Those with house payments are IN DEBT by definition, generally for 30 years at a stretch. Renters may be paying proportionately more per month, but they generally don’t go into debt to do it. Even if a renter borrows a couple thousand $$ cash advance on a credit card, that trick is only going to work a few times at most — not much comparison to a six-figure mortgage.

      @Tommy25: Agree. Just to be clear (before anyone complains), of course many LGBTs do have children; I just meant that we have a lot fewer children compared to the straight population overall.

      Dec 7, 2012 at 1:45 pm · @ReplyReply to this comment ·
    • jeff4justice

      @viveutvivas: Amen. You may want to check out the forming group http://www.gotblissgroup.org becuase poverty will be a big topic in this group.

      It’s amazing how many celebs do huge fundraisers for LGBT causes and there are all these 6–figure salary executive directors but unless you’re a gay teen, senior, or person with HIV they will not help you in times of need.

      The well-to-do LGBTs could be doing much more to help their LGBT brothers and sisters in poverty.

      Dec 7, 2012 at 10:03 pm · @ReplyReply to this comment ·
    • Guillermo3


      Dec 8, 2012 at 3:15 am · @ReplyReply to this comment ·
    • Spike

      It’s the power lesbian executives who that are making up for the retail tweaker boys who spend all their money on their gym memberships, clothes, and partying.

      Dec 12, 2012 at 12:28 pm · @ReplyReply to this comment ·

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