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First, on taxes, the big problem with taxes is that they are way too regressive. The Democratic nominee needs to articulate a clear message about what is wrong with the tax system today. Calling it 'too complicated' isn't enough. Calling it complicated is like saying the problem with it is too complicated to understand. The problem with taxes is too simple to ignore: through 1000 devices, the huge, rich businesses and individuals are trying to camoflage the fact that their tax burdens are tiny compared to middle income people (who are the workhorses of the economy). And the danger of talking about simplifying the tax codes is that usually this talk lees to simplified proposals which are also regressive (like flat taxes, and fewer brackets all condensed at the lower end of the income tax range).
As for balanced budgets over the business cycle. To me that's code for "we're willing to reduce the size of government when times are lean and we're willing to lower taxes when times are good" both of which are sentiments that would make FDR roll over in his grave. What a progressive tax policy should do is spread the burden in a way that promotes a fair competition and a lot of access to the marketplace for people who otherwise wouldn't have access but for taxpayer-financed public eductation and small business loans, etc. If this balance ends up producing a lot of added tax revenue, it should be reinvested to create even more opportunities, and more progress, and more investment in the future, and taxes should be continously updated in a manner which reinforces progressivity (ie, equallizing tax burdens accross the entire income range). Until there are no starving people in America, and until I'm driving my solar powered flying card (born of federally funded research at a public university), then I don't want to hear a damn thing about 'balancing budgets over the business cycle'.
Business needs to hear moderation from the nominee, sure. But the kind of moderation I'd like to hear from the candidates is more like what I heard from Clinton last week: rich people are going to be way richer in a fair, liberal economy, in which everyone can participate, and wealth is spread fairly. I don't think the moderation they need to hear is that we'll cut your taxes like Republicans promise.
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