The collection of any taxes
which are not absolutely required, which do not beyond reasonable doubt
contribute to the public welfare, is only a species of legalized
larceny. Under this republic the rewards of industry belong to those who
earn them. The only constitutional tax is the tax which ministers to
public necessity. The property of the country belongs to the people of
the country. Their title is absolute. They do not support any privileged
class; they do not need to maintain great military forces; they ought
not to be burdened with a great array of public employees. They are not
required to make any contribution to Government expenditures except that
which they voluntarily assess upon themselves through the action of
their own representatives. Whenever taxes become burdensome a remedy can
be applied by the people; but if they do not act for themselves, no one
can be very successful in acting for them.
The time is arriving when we can have further tax reduction, when,
unless we wish to hamper the people in their right to earn a living, we
must have tax reform. The method of raising revenue ought not to impede
the transaction of business; it ought to encourage it. I am opposed to
extremely high rates, because they produce little or no revenue, because
they are bad for the country, and, finally, because they are wrong. We
can not finance the country, we can not improve social conditions,
through any system of injustice, even if we attempt to inflict it upon
the rich.
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