Franklin Pierce Money Quote saying taxpayers are charged more than the government needs to fund existing projects, so revenue increases. Franklin Pierce said:
“The revenue of the country, levied almost insensibly to the taxpayer, goes on from year to year, increasing beyond either the interests or the prospective wants of the Government” — Franklin Pierce
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The quote you provided, from Franklin Pierce, suggests that taxpayers are charged more than the government needs to fund existing projects, resulting in an increase in revenue beyond what is necessary for the government’s needs.
This implies that the government may be over-taxing its citizens, which could be seen as a significant issue in the context of taxation and government spending.