By Kris Maher
Wall Street Journal, 7/21/07
On Tuesday, about two million workers will get a raise, as the first increase in the federal minimum wage since 1997 takes effect.
But for all the handwringing about how raising the federal minimum wage would hurt employers and boost inflation, this week's initial wage increase to $5.85 an hour is expected to have little impact on the economy. The price of a cheese pizza might rise, but that could be blamed on higher dairy and gasoline prices, as well as higher pay for cooks and cashiers.