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In this quote, J.P. Morgan appears to be suggesting that while citizens have a legal obligation to pay taxes, there is no inherent moral duty to do so. He asserts that if one can find legal loopholes to avoid paying taxes, they are within their rights to exploit them.
However, most modern interpretations would disagree with this viewpoint. A civilized society relies on all members contributing fairly to support functions from which everyone benefits, such as infrastructure, education, healthcare, and national defense.