What is Missing

Now that the expected midterm adjustment has been made, it is time to declare what the voters voted for when they voted against the previous political-economic regimen.

Immediately on the agenda is the fiscal gap. Immediately it is necessary to determine what is missing.

Income!

Income is what is missing.

Without adequate income there is neither adequate funding for social security payments nor the income to not rely on it for income. Anything else is to belabor the obvious.

The gap is easily accounted for by an overconsolidation of wealth (income) and an overextension of risk.

It lacks good moral intelligence for Wall Street executives to retire multi-millionaires on capital gained while the vast majority of the elderly, suffering loss of net worth to the capital gained, are condemned to a life of impoverished servitude and call it "doing God's work."

Yes, it is perfectly clear, the tax code needs to be reformed to provide market stability, and there is no better way to do that than to provide adequate income, obviously missing.

I always find it an interesting argument that if "we" don't lower our standard of living it will lower "our" standard of living.