Minimum Wage Rage!

OMG! At school today we found out that Minimum Wage is going up to $15! How cool is that? I'm gonna make so much money!
Oh Sweet Heart, I know how excited you must be, but unfortunately increasing minimum wage is not as amazing as may you think.
I don't understand
When minimum wage gets increased, the cost of everything goes up as well...Gas, Rent, Grocery's, the cost of living.
Wouldn't more money be a good thing?
Also, higher paying jobs wont get additional compensation.
We actually lose more money that we would be making.
This is so unfair! Why does the world have to be so expensive!