In the early years of the Obama administration, as new taxes on upper-income Americans were enacted as part of Obamacare and the expiry of the Bush tax cut loomed, it was common to hear libertarian types warn that businesspeople and entrepreneurs might just Go Galt. That is to say, if they determined that losing 50 cents of every dollar in taxation wasn’t worth their trouble, they’d take a cue from the hero of Ayn Rand’s Atlas Shrugged, fold up their businesses, and quit work altogether. Check out this March 2009 Michelle Malkin column for an exegesis of this, um, idea. “Enough,” she wrote. “While they take to the streets politically, untold numbers of America’s wealth producers are going on strike financially.”
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