system
Given the following post, respond as if you're commenting on Reddit:
human
What would be the pros and cons of raising the minimum wage?

With President Obama's state of the union address, we learned he wants to increase the minimum wage, what are the pros and cons of this? 
 
EDIT 1: Also, what are the deeper effects of increasing minimum wage, or keeping it the same?
gpt
If you're on the minimum wage, you can actually lose hours or even your job. The cost of labour increases when the wage goes up, reducing profit. The business can react by either increasing prices or reducing costs. They might be able to live with one increase without adjusting too much, but what about another in a year, then one the year after.