I was going to post this, but Neser beat me to the punch. Obviously, the article is from Slate so it surely is biased to a degree. However, that doesn't mean it's total bunk.
I realize that many people subscribe to Rand's philosophy. I personally find it to be ridiculous for the reason that was outlined in the article:
In a country where almost everyone believes—wrongly, on the whole—that they are self-made, perhaps it is easier to have contempt for people who didn't make much of themselves. And Rand taps into something deeper still. The founding myth of America is that the nation was built out of nothing, using only reason and willpower. Rand applies this myth to the individual American: You made yourself. You need nobody and nothing except your reason to rise and dominate. You can be America, in one body, in one mind.
America didn't spring forth de novo and our society, from which Rand's protagonists like Roark, believe they should be allowed to operate in a completely unfettered manner was created and secured by men and women who acted in a selfless, collectivist manner. People are enabled to make their fortunes in this country, because somebody carries a rifle, or walks the beat, or puts out fire, to give them that opportunity. These people are not mere chattle for the Rand's Ubermensch to trod on as they move up Maslow's hierarchy.
On a literary note, I personally find Rand hard to read and don't think she is a good writer. Her characters are static and the themes come across with the tone and tenor of bible versus as opposed to challenging the reader to consider her point of view.