Contender chooses topic

How unforfunate I'll begin my argument as to why I believe that we shouldn't raise our minimum wage. Contention 1: Wage Increase=/= More JobsWages will not increase jobs For instance the wage will increase and the employers will have to either raise prices in order to shelter the burden of the increased wages (which we'll get to this in another Contention) and the second is that we have roughly 500,000 jobs lost due to the cutting of jobs in order for business can still compete with others at low prices. You see that CBO actually supports my point (http://www.foxnews.com...) This will also hurt teenagers in the Workforce making employers having to cut down on their hours and/or favoring adults and a older population. Let's take Wisconsin for example when the minimum wage was last raised the unemployment soared from 15.8%-19.8%. (http://www.jsonline.com...) Imagine that on a US wide or even a world wide scale. 1 million jobs lost subtracted from the 900,000 that will be lifted from the poverty line and that equals 100,000 people unemployed and living in poverty. Not to mention the other side effects from raising the minimum wage such as loss of jobs for teenagers. The last time Congress raised the minimum wage in July of 2009, 600,000 teen jobs disappeared within 6 months. (http://www.forbes.com...) With the last minimum wage teen unemployment percentages went from 14.8% to 27.1% (http://articles.chicagotribune.com...)The Inflation will also rise, but let's look at the minimum wage increase. It's going to go from $7.25 per hour to $10.10 per hour which is over a 25% increase. (in the US) This will cause prices to rise by 25% again. (http://newsbusters.org...)Contention 2: InflationWhy don't we raise the minimum wage to $20 per hour or why not make everyone a millionaire and have them make $million per hour? The answer to this question is a very simple one and it's simply causes prices to increase and inflation to rise. (http://inflationdata.com...)You see this is a lesson in supply and demand is that when the minimum wage is increased it will cost more for companies to hire and train employees causing more people not to be hired (see video), this results in less jobs, the costs of businesses also rise to keep up with the increased wages and that this ends up causing inflation. (http://www.goupstate.com...)You see this will be a continuous cycle. If you continue to rise the minimum wage then inflation will fallow causing the minimum wage to rise again and again until we end up with a problem like Zimbabwe. When the minimum wage was risen once more the US saw products prices increase via inflation by a factor of 10. (http://www.nytimes.com...) and (http://www.cbo.gov...) Contention 3: Inflation's affect on Global Trade Here when we observe the above chart we can see as the minimum wage increase the value of the dollar decreases. This only creates a terrible cycle that the average citizen is unable to get out of. The reason that this is important is because we would be raising the minimum wage to meet living requirements, but the thing that makes it contradictory is that prices will skyrocket causing for another call to raise the minimum wage to meet this resolution. It will be a vicious cycle that will the dollar to be worthless and have a devastating effect on the Global Economy. The higher the inflation rate also affects international trade as the higher the inflation is the higher the interest rates. (http://www.investopedia.com...) According to Paul Krugman, the devaluation of the dollar (caused by the resolution here) will lead to a decrease in people people buying product which hurts the economy of the nation. (http://www.economist.com...)