Biggest lies about income inequality

Robert Reich debunks the four biggest lies told about income inequality.

* The rich are job creators, so don't tax them. Reality: what creates jobs is the poor and middle class purchasing goods and services. If the poor and middle class aren't paid enough for their work the economy stagnates.

* In a market economy employees are paid what they're worth, so don't tamper with pay. Reality: CEO pay has gone from 30 times the average worker to 300 times in forty years. They're 10 times more valuable? Nope, they control the compensation committee. As for lower class workers, they are working just as hard and earning less than 40 years ago. The reason is busted unions.

* Any American with enough guts and gumption can make it, so no need to do anything for the poor. Reality: ain't gonna happen with the abysmal state of schools in poor districts. "We’re the only rich nation to spend less educating poor kids than we do educating kids from wealthy families."

* Increasing the minimum wage results in fewer jobs, so don't change it. Reality: recent studies at UC Berkeley contradict that claim.

Solutions: Tax rich to pay for schools in poor areas, raise minimum wage, strengthen unions.

Alas, it is clear that a thorough debunking won't stop the 1% and their minions from endlessly repeating those lies.