"The wealthy were in a position to take risks with new ventures. Under the new 1935 [Roosevelt tax increase], a very wealthy man would see more than three-quarters of any profits from new ventures taken by income tax. Any loss, however, would be the same man's to bear. This man would try to hoard his capital and wait - thus coming to fit the very stereotype of the idle rich man the New Dealers were hoping to propagate."
-Amity Shlaes, "The Forgotten Man"