No one wants to be homeless and no one wants to go through hard times because it is an emotional roller coaster and a huge life changing experience. Even if you have been an employee of a company for a long time, if the minimum wage increases, you could still be fired from your stable job and what would you do then? If you are older, have you saved enough for retirement? If not, what would you do if you couldn't find a job? This is a recurring problem and because of this some families are not able to support their families and are not able to buy gifts and celebrate certain occasions such as Christmas and birthdays, but this person initially wanted a higher minimum wage but he didn't think about the long term term effects. Almost no one nowadays really thinks about the long-term effects of their decisions and, especially when thinking about the future of the economy, one thinks that people would think more before making a life-changing decision. Going back to retirement, some might say their retirement funds would be higher because they earn more, however, if things cost more like groceries and taxes, it doesn't help your fund anymore. The worker earns more but in return spends more on items