Gay marriage boosts NYC's economy by $259 million in first year

[CriticalThought]

Gay marriage boosts NYC's economy by $259 million in first year - Jul. 24, 2012

NEW YORK (CNNMoney) -- Gay marriage is generating millions of dollars for New York City's economy.


Since gay marriage was legalized in New York state a year ago, marriage license fees, local celebrations and wedding-related purchases have boosted New York City's economy by $259 million, Mayor Michael Bloomberg and City Council Speaker Christine Quinn announced Tuesday.


"Marriage equality has made our City more open, inclusive and free -- and it has also helped to create jobs and support our economy," Mayor Bloomberg said in a statement.

Good things come to those on the side of right.

 

[Thunder]

one more reason to support SSM.

 

[beerftw]

reminds me of the simpsons episode where the mayor legalizes gay marriage to bring tourists.

and he say legalize gay money,er i mean gay marriage!

 

[specklebang]

Finally the walls are coming down. I worked as a doorman at the gay bars and clubs in Manhattan from 1957 to 1962. If we got raided, they would bust us for same sex dancing so I would flip a switch hidden at the entry and turn on floodlights and everybody would sit down fast. I had fun working for the Mafia, it was a great adventure for the teenage me.

I'm happy I got to live long enough to see equality arriving in America.

 

[wolv67]

That's nice, but I don't want it legalized just cause of money. Same as the marijuana argument coming to the forefront in CA only now that their economy is going down the toilet. These things should be legalized cause it's the right thing to do in and of itself.

I guess the other side of this is it makes the haters in other 45 states look like total irresponsible fools given what they're throwing away, but I try to leave the economics out of the argument.

 

[Paschendale]

As "Prop 8: The Musical" put it, "Gay marriage will save the economy!"

 

[Miguel17]

This is cool, and I hate to be "that guy." But we should legalize not based on utility but based on principle after demonstrating to the country the morality of our stance. We need to change the culture.

 

[clownboy]

one more reason to support SSM.

Actually no for a few reasons:
1) Bloomberg is not above inflating figures. I'd check his work before celebrating.
2) The cost of services, and of living in NYC is what? Ten times the national average? Where else are rich gays who want to marry going to go for the over the top wedding experience? The last buggy whip manufacturer probably made a fortune. :mrgreen:
3) If gay marriage were allowed everywhere in the US, NYC would lose some of that business and others would not see near the profits. Gay folks are still a small percentage of the population. Those who wish to marry, even smaller. That makes up a market. If the market is dominated by one city, doesn't leave much meat on the bone for the rest of the providers.

 

[roguenuke]

Actually no for a few reasons:
1) Bloomberg is not above inflating figures. I'd check his work before celebrating.
2) The cost of services, and of living in NYC is what? Ten times the national average? Where else are rich gays who want to marry going to go for the over the top wedding experience? The last buggy whip manufacturer probably made a fortune. :mrgreen:
3) If gay marriage were allowed everywhere in the US, NYC would lose some of that business and others would not see near the profits. Gay folks are still a small percentage of the population. Those who wish to marry, even smaller. That makes up a market. If the market is dominated by one city, doesn't leave much meat on the bone for the rest of the providers.

You are missing the point. No matter how small the profit is, there would still be money for any city to make in legalizing same sex marriages. They don't lose money in legalizing it at all. Weddings bring in business, even if temporarily. It still helps to circulate money in a city's economy.