What's are the disadvantages of increasing the minimum wage?

Answer 1

theoretically, it could increase unemployment because small business may not be able to afford the increase, which could, in turn, hurt small business.

Answer 2

This will make some people unemployable that would otherwise be employable. For example mentally challenged people. The higher wage will reduce demand and it is likely that only the ones who are worth the higher amount will remain employed.
A job can have very positive effects on someones self worth.

Some jobs that are very fun or easy may have to hire less people than they could otherwise since they will not be able to afford the higher amount.

Some companies will have to raise their prices to cover their higher costs bringing the net of the wage gain of the employee down.

Raising the minimum wage in my opinion causes both positive and negative effects which equal each other out.

Answer 3

Who Knew is correct. Only its not a theory its a fact. The problem is that if a new job doesn't happen because of the minimum wage who will know the difference.

The real minimum wage is zero. That's what you make if you don't have a job. You can make the minimum wage what ever you want but you can't force employers to hire a single person.