By Robert Reich
Source: Read full article at Truthdig
Even though we’re heading toward levels of inequality not seen since the days of the 19th century robber barons, conservatives keep lying about what’s happening and what to do about it. Here are their four biggest lies about inequality, followed by the truth.
1. The rich and CEOs are America’s job creators, so we dare not tax them.
The truth is the middle class and poor are the job-creators through their purchases of goods and services. If they don’t have enough purchasing power because they’re not paid enough, companies won’t create more jobs and the economy won’t grow. The giant Trump-Republican tax cut for corporations and the rich hasn’t trickled down to ordinary Americans. It’s just made the rich even richer.
2. People are paid what they’re worth in the market, so we shouldn’t tamper with pay.
Wrong. Four decades ago, CEOs of big companies got 30 times the pay of typical workers. Now they get 361 times their workers’ pay. It’s not because they’ve done such a great job, but because they control the compensation committees of their boards. They’re using corporate profits to buy back even more shares of stock so their…