Okay fine. We can discuss it more if you want...
The intent of the quote in both my example and yours is to say "don't bow to a king". In my case, the King of England, in your case the Penn Family. You are correct that the way it was expressed in your context was a state legislator refusing to give a prominent family a tax break. In my case a refusal to accept terms to maintain status as a British colony. Either way, the intent of the quote is to not give up your liberty for a false sense of security.
I think the "No Kings" interpretation is a good one, given the recent No Kings pretests in the US, eh?

Well for two reasons: