John Stossel quoting FBN’s Charles Brady: “For 10 years – from 1997 to 2007 the minimum wage held steady at $5.15 per hour. Then in 2007 it was raised to $5.85. It was increased again to $6.55 in 2008 and finally to $7.25 in 2009. So over the course of three years businesses, especially those that rely heavily on minimum-wage workers, saw their labor costs soar 41%. … Unless these business saw their revenues rise by a similar amount, this extra fixed cost came right out of profits or was offset by reduced hiring or job cuts.”