David Thomas: “I would like to move away a little bit from the specifics of the amount that we talk about and the specifics of even how…”

“I would like to move away a little bit from the specifics of the amount that we talk about and the specifics of even how it is done and, rather, talk a little more about the philosophy of taxation. I think it is important, over time, that we really take a look at where we want to go, what the choices are with respect to Government, with respect to taxation, where you and I will be, where our kids will be, and where our grandkids will be in terms of the strategy and philosophy of taxation over a period of time. The numbers I have seen now, Mr. President, indicate that, on the average, American families pay 38 percent of their income in total taxes. Now, that is a lot of money. That is a lot. Think about how long you work out of the year in order to pay your taxes. Obviously, there have to be taxes paid in a democracy, in a civilized society, to cover those kinds of things that clearly have to be done by Government, whether it be defense, interstate commerce, or whatever.”