The federal minimum wage is on the path to being increased to $15 an hour which may not be the best way to make individuals more well off. Although receiving an increase may sound great it doesn't guarantee any benefits. Since individuals will be getting payed a higher wage to do the same job as before it may hurt a variety of small businesses. Since businesses now have to pay less employees more money they will still need to make their profits. One way they may make back these profits is by increasing the prices of their products. This is known as inflation, when the dollar is devalued and products increase in price. Since many individuals may be laid off it is possible that they may need to rely on government assistance programs such as unemployment. These government programs are funded by us tax paying citizens which may also mean an increase in taxes. Although it is not guaranteed that every unemployed person will have to rely on these programs it should be kept in mind since the rate in which companies hire individuals will also significantly decrease. It should be kept in mind that minimum paying jobs are not intended to support a full household, they are intended for teenagers who may want a job for some extra spending money.