HAMILTON GOT IT

"If duties are too high, they lessen the consumption; the collection is eluded; and the product to the treasury is not so great as when they are confined within proper and moderate bounds. This forms a complete barrier against any material oppression of the citizens by taxes of this class, and is itself a natural limitation of the power of imposing them."

-- Alexander Hamilton (Federalist No. 21, 1787)

This is the part the high-taxation Democrats just don't get.