We’ve all heard of the Trickle Down Theory. This self-serving fantasy promoted by the rich holds that cutting taxes on upper incomes leads to job creation and spurs economic activity. In reality most of that money goes into investment vehicles that do squat for the rest of America. That money is seeking returns, and it doesn’t care in the slightest where they come from. It’s like Dad blowing your college money on Lotto tickets but calling it an investment.
But Trickle Down does work in one area — romance. The other day I read about a Seattle mega-millionaire who made big money in the medical field. He had four kids by a wife who’d died years earlier. So at age 85 he decided to get remarried. To a 35-year old.
If I ever become a super-rich parent, I’m gonna call my kids right after my dementia diagnose and tell them I’m marrying someone their own age. That’ll freak ’em out.
You probably know the story from here. The will somehow gets changed. The kids get cut out completely. They go to court. Is the new wife a gold-digger that pushed her grandpa/husband’s hand? Was Dad mentally fit to change the documents? Why didn’t anyone think to just split the money five ways?
But here’s the important thing — in the end all the money got spent. It flowed through the local economy like money is supposed to do. It went to lawyers, lunches near the court house, courtroom-appropriate clothing stores, stress counselors. This money did trickle down.
So if your Dad is an aging 1-Percenter, encourage him to get remarried. The later the better. Sure, it sucks for you, but you’ll be doing a really good thing for your country.