Go Galt

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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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A commenter on the Going "John Galt" website suggested that going Galt might mean planting a garden.
Of course, if taken to its logical extreme, going Galt means embracing a situation commonly known as unemployment.
Yet as the initial enthusiasm for going Galt has faded, the idea has proved a convenient way to explain just about any economic indicator that seems not to be going Obama's way.