US Presidency
1925

If extravagance were not reflected in taxation, and through taxationboth directly and indirectly injuriously affecting the people, it wouldnot be of so much consequence. The wisest and soundest method of solvingour tax problem is through economy. Fortunately, of all the great nationsthis country is best in a position to adopt that simple remedy. We do notany longer need wartime revenues. The collection of any taxes which arenot absolutely required, which do not beyond reasonable doubt contributeto the public welfare, is only a species of legalized larceny. Under thisrepublic the rewards of industry belong to those who earn them. The onlyconstitutional tax is the tax which ministers to public necessity. Theproperty of the country belongs to the people of the country. Their titleis absolute. They do not support any privileged class; they do not needto maintain great military forces; they ought not to be burdened with agreat array of public employees. They are not required to make any contributionto Government expenditures except that which they voluntarily assess uponthemselves through the action of their own representatives.