Understanding the basic concept of the minimum wage is important for every individual. We all live together in this world and it is obvious that there is order. To continue our lives and satisfy our basic needs, we all must work and acquire wealth. As the old adage goes, "There's no such thing as a free lunch." We have to give up something we like to get something else we like. This is why every single individual in society faces trade-offs. However, people have a different status. Some people work as employees and others as employers. In that case of minimum wage the compromise is between employees and employers. Employees work for employers to earn money and afford minimum living expenses, while employers give up their own money and pay employees because employers take care of their labor needs. Employers pay for their workers we call employees and employees earn money hourly. The calculated minimum money they earn on an hourly basis called the minimum wage. Also, there's this cycle where everyone really works. Should the minimum wage increase? Well, raising the minimum wage has both advantages and disadvantages. However, it is deniable that raising the minimum wage nationwide would increase the earnings of millions of workers. I suppose this is why some argue that raising the minimum wage will grow the economy for everyone. In 2014, US President Obama called on the current Congress to increase the national minimum wage, which shows that Obama is indeed in favor of increasing the minimum wage. The February 2014 Congressional Budget Office Report on the Effects of a Minimum Wage Increase on Employment and Family Income is the latest attempt to do so, in this response to members of Congress regarding an increase in the federal minimum wage from 7.25 to 10.10 dollars per capita.