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this post was submitted on 09 May 2024
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No Stupid Questions
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No such thing. Ask away!
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I would guess if anything rich people dying is good for the economy. Retired people are generally sitting on their assets in the form of homes they're not going to sell until they kick the can and retirement accounts in low risk investments. When they bite the dust all of those assets get swept into taxes and to their kids, who probably spend it or at least invest it in the market in a way that is more stimulating than what their parents were doing with it. Old people are stagnant and safe with their wealth which is not good for line goes up.