Go Galt


Also found in: Idioms.

Go Galt

Informal; to cease working in response to punitive taxes. That is, when taxes become sufficiently high as to disincentivize work, one goes Galt as a form of protest. For example, if taxes are 100% on all income over $90,000, no one has an incentive to earn more than $90,000 and one may therefore work less. Going Galt under a marginal tax system is generally irrational because one's post-tax income is almost always higher than it would have been had one stopped working and gone Galt. The term derives from a major character in Ayn Rand's novel, Atlas Shrugged.
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Wealthy couples might also "go Galt" by having one earner retire or even by moving to a lower-taxed state.
Despite his intimate connections with many other productive people and their money, several of whom also have Randian sympathies, he has seen zero sign of anyone "going Galt." Asness adds: "Even if I wanted to 'go Galt,' I wouldn't know how.
Objectivism's tendency to attract unlikely fellow travelers is also evident in the grassroots elitism of the Go Galt movement.