Atlas Society misquotes Ayn Rand’s ‘The Inverted Moral Priorities’

05/23/2024 · By Dennis Hackethal · Fork · Check another quote

Original text

How would she know it, if all the voices she hears are telling her that we must soak the rich? No one tells her that higher taxes imposed on the rich (and the semi-rich) will not come out of their consumption expenditures, but out of their investment capital (i.e., their savings); that such taxes will mean less investment, i.e., less production, fewer jobs, higher prices for scarcer goods; and that by the time the rich have to lower their standard of living, hers will be gone, along with her savings and her husband’s job—and no power in the world (no economic power) will be able to revive the dead industries (there will be no such power left).
‘The Inverted Moral Priorities’, The Ayn Rand Letter, III, 21, 3, as quoted on http://aynrandlexicon.com/lexicon/taxation.html#order_3

Quote text

Soak the rich? Higher taxes imposed on the rich will not come out of their consumption expenditures, but out of their investment capital. Such taxes will mean less investment, I.E., less production, fewer jobs, higher prices.
https://x.com/TheAtlasSociety/status/1792651515200405765
Ellipsis used (if any): ‘[...]’
Found 15 issue(s) using regular expression . and Myers algorithm, underlined in wavy red. 
How‧would‧she‧know‧it,‧if‧all‧the‧voices‧she‧hears‧are‧telling‧her‧that‧we‧must‧sSoak‧the‧rich?↵↵No‧one‧tells‧her‧that‧hHigher‧taxes‧imposed‧on‧the‧rich‧(and‧the‧semi-rich)‧will‧not‧come‧out‧of‧their‧consumption‧expenditures,‧but‧out‧of‧their‧investment‧capital‧(i.e.,‧their‧savings);‧that‧sSuch‧taxes‧will‧mean‧less‧investment,‧iI.eE.,‧less‧production,‧fewer‧jobs,‧higher‧prices‧for‧scarcer‧goods;‧and‧that‧by‧the‧time‧the‧rich‧have‧to‧lower‧their‧standard‧of‧living,‧hers‧will‧be‧gone,‧along‧with‧*her*‧savings‧and‧her‧husband’s‧job—and‧no‧power‧in‧the‧world‧(no‧*economic*‧power)‧will‧be‧able‧to‧revive‧the‧dead‧industries‧(there‧will‧be‧no‧such‧power‧left).

Explanation

# Part Valid? Explanation
1 
How‧would‧she‧know‧it,‧if‧all‧the‧voices‧she‧hears‧are‧telling‧her‧that‧we‧must‧s
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2 
S
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3 
oak‧the‧rich?
4 
↵↵No‧one‧tells
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5 
‧
6 
her‧that‧h
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7 
H
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8 
igher‧taxes‧imposed‧on‧the‧rich‧
9 
(and‧the‧semi-rich)‧
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10 
will‧not‧come‧out‧of‧their‧consumption‧expenditures,‧but‧out‧of‧their‧investment‧capital
11 
‧(i.e
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12 
.
13 
,‧their‧savings);‧that
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14 
‧
15 
s
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16 
S
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17 
uch‧taxes‧will‧mean‧less‧investment,‧
18 
i
 × no Deletions must be indicated, eg by ‘[...]’ or [replacement].
19 
I
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20 
.
21 
e
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22 
E
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23 
.,‧less‧production,‧fewer‧jobs,‧higher‧prices
24 
‧for‧scarcer‧goods;‧and‧that‧by‧the‧time‧the‧rich‧have‧to‧lower‧their‧standard‧of‧living,‧hers‧will‧be‧gone,‧along‧with‧*her*‧savings‧and‧her‧husband’s‧job—and‧no‧power‧in‧the‧world‧(no‧*economic*‧power)‧will‧be‧able‧to‧revive‧the‧dead‧industries‧(there‧will‧be‧no‧such‧power‧left)
 × no Deletions must be indicated, eg by ‘[...]’ or [replacement].
25 
.
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