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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