Fallacious myths

There are so many myths about economic policy that are just plain wrong.   But the "ignorance caucus" (Krugman), the "stupid party" (Jindal), and the "faith-based world" (Bush staff aide), otherwise known as the Republican Party, cling to their myths -- and sell them to the pundits and the people.

Now they're attacking President Obama's call for an increase of the minimum wage from the current $7.25 (last raised in 2009) to $9/hour.  They're trying to discredit it with their myth that "raising the minimum wage kills jobs."

There is some controversy.  A report from the London School of Economics found some correlation.    But Paul Krugman says there is no evidence that, at our current levels, it would make employers not hire people.   They just pass on the higher cost to customers, I presume.

The question is:  is it warranted?   The Center for Economic and Policy Research says that, if the minimum wage had kept pace with increased worker productivity, it would be $21.72.  That is three times what it actually is.

What does this mean?   If I understand correctly, it means that workers have not benefited from the increased productivity.  It's been the corporations, the executives and shareholders who have gotten the benefits, not the workers.

Just another way in which the economic gap between rich and poor has been increasing.

Ralph