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This was a slogan that emerged shortly before the American Revolution, when colonists complained that they had no one to speak for them in the British Parliament.
No taxation without representation means that the people are being taxed by a government that did not represent them. For example, England was taxing the colonists in the New World, but the colonists had no voice in the matter.
It means, 'We will only pay taxes that our representatives in a House or Assembly [or similar body] have approved and passed into a law.

The slogan was used by the American revolutionaries and meant they they weren't willing to pay taxes imposed by the British House of Commons - as they were not represented there.

It also means that if you pay taxes, then you are entitled to have a say in how that money will be spent (i.e., to have a vote in the elections of the representatives with the fiscal powers. I

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