I feel it would be better to buff defenses instead of just wanting to nerf damage.
My reason for why defenses need to be raised instead of damage being nerfed is that you'll end up upsetting the system that is in place in regards to the runes reforged and the items that are in the game right now. As it stands damage is too high and nerfing it create more harm than good because their are so many damage options that it would be better to create something to counter all of those options, namely rework the resolve tree so no damage runes are in that tree apart from grasp.
Another thing I'd like to see is the buffing of all HP and resistances for all champs. some champs will get more than others, Tanks and juggernauts will get the most followed by divers then skirmishers etc. In order to keep things more balanced and give champs that need the extra defensive stats the chance to survive a beating while more frail champs can survive a little longer or get away from an assassin. Personally I think that a massive base HP boost should be done first due to the amount of true damage in the game atm.
Lastly, defensive items need a buff to their resistances because the HP granted is fine but their resistance don't do jack against Penetration at all and that needs to dealt with.
Anyways, that is just my two cents on the matter.
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Syngergizes too damn well.
Synergize too damn well.
Synergize too damn well.
Synergize too damn well.
is conditional. Requires a split push/pressure comp.
is conditional. Only works on a select few champs like Chogath.
is conditional. Only works when the game isn't an all in clown fiesta. (Which most are.)

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