Two weeks ago I made a presentation on The Family as The Agent of Economic Development and the Fundamental Safety Net at a conference at the United Nations that was sponsored by the Holy See’s Permanent Observer Mission, The Pontifical Council for the Family, and The UN Alliance of Civilizations. I set the stage with the framework of the five basic institutions of society: The family, the church, the school, the marketplace, and the government. Each institution has its basic function or task within society; for family it is the sexual, for religion it is reflection, for education it is learning, for the marketplace it is production, and for government it is protection.
The presentation illustrated how society, in each of the five institutions, benefits from marriage. A sample item will serve as a brief synopsis of how marriage influences the economic marketplace.
According to the Survey of Consumer Finance, the median income for the “married always intact” family is $82,270 while their net worth is $546,944. Both figures are substantially higher than any other household structure, whether married step, cohabiting intact, cohabiting step, separated, divorced, widowed, or never married.
Furthermore, when one seeks to discover what the contribution is from marriage to the general tax pool the data show that married couples contribute a staggering 40% more than two single individuals identical in all ways to the married couple even while they benefit from the tax deduction received for being married. More data and analysis on this subject will be released by the Marriage and Religion Research Institute in the coming months.
This doesn’t even begin to look at myriad other impact such as the economic impacts of divorce or the marriage premium effect on male income. But is only a small glimpse of the widespread influence of marriage on the five basic institutions of society. To read the entire presentation or to get a copy of the PowerPoint used during the presentation, please visit http://marri.us/un-holysee.