What was Thomas Jeffersons economic philosophy?
When elected president in 1802, he abolished direct taxes. for the next ten years there were no revenue taxes except excises. He assumed the worst in men. Jefferson believed the government should be a model of rightness and moral virtue and the conduct of those in it should set an example to be emulated, that the economic environment of the people should teach, through repitition, responsibility, independence, honesty, and the other moral qualities that are essential to liberty.
