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Love this quick hit on Portfolio, "Cashing in on Same-Sex Wedding Bells," about the boon to the CA wedding and tourism industries resulting from the May 15 decision. Sort of a common theme for coverage today, as same-sex wedding season officially begins - above, today's full-page Macy's "congratulations, and buy our flatware!" ad in the LA Times. Also this gem in the same paper: "gay marriage ruling boosts firm that sells interchangeable figures for wedding cakes."
So the Portfolio piece parses the UCLA Law Williams' Institute study about the nature of this windfall (the one being referenced everywhere). The upshot:
"The Institute thinks same-sex marriage should generate 2,200 jobs in California, bring in $8 million in marriage-license fees, and increase sales and occupancy tax revenues by $55 million. A 2005 study showed that if same-sex marriage was legalized nationally, the wedding industry could generate another $2 billion annually."
State revenue, job creation and equality? Cheers!
You heard it here first: gay weddings. The clear solution to low consumer confidence and economic doldrums.
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