President Barack Obama says Democrats “don’t want to tax all businesses out of business.”

“I know that there are a few Republicans here in the audience,” Obama said Friday at a fundraiser for the Democratic Senatorial Campaign in Palo Alto, Ca. “If you talk to us, it turns out we’re pretty common-sense folks.

“We don’t think government can do everything,” he said.  “We don’t think that top-down solutions are the right way to go.  We believe in the free market.  We believe in a light touch when it comes to regulations.”

“We don’t want to tax all businesses out of business,” Obama said.  “But we do think that there’s a role to play for government.”

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