What's the rest of the context? That quote is a statement that is more like a description or definition, but it does not tell us what his personal preference is.
Other Jefferson quotes:
"A wise and frugal government, which shall leave men free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned - this is the sum of good government. "
"I own that I am not a friend to a very energetic government. It is always oppressive. "
"I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them. "
"It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world. "
"My reading of history convinces me that most bad government results from too much government. "
"Our greatest happiness does not depend on the condition of life in which chance has placed us, but is always the result of a good conscience, good health, occupation, and freedom in all just pursuits. "
Which serves to suggest that Jefferson supports a limited government, the less the better. That means even if he supports the idea your quote shows him talking about, it would still mean that he favors limited taxation overall and small cheap government.
What I don't like currently is the justification for wanting to raise taxes on the high incomes being that they don't pay their fair share. That's just bull as they already pay well over what "fair" would be. It's one thing to say it's necessary, but to claim that they aren't paying a fair share is just ridiculous.