I’ve still yet to read The Fountainhead (maybe someday — flip a coin), but I get what “going John Galt” means. If Government starts punishing the productive too much, the productive stops, well, being productive. Or they move:
So how’s is Oregon’s class-warfare approach working? Not surprisingly, the politics of hate and envy is generating poor results. Revenues are much lower than forecast, as anyone with a rudimentary understanding of the Laffer Curve could have explained. The most noteworthy result is that about one-fourth of rich taxpayers have disappeared. Does the name John Galt ring a bell?
Being an Oregonian, there’s some mixed feelings here. On one hand, the cuts and “shared sacrifices” that are bound to come will affect me, but on the other hand, this kind of class warfare needs to be stopped, and showing that politicians and the Left can’t produce on their promises helps that cause. As an aside, this is one of the main points of federalism. One state acts stupid, the constituents can go somewhere else, hopefully creating a self-correcting mechanism against the State’s worst excesses. All increases of Federal power over the States’ power undermines this mechanism.