The federal minimum wage in the United States is a paltry $7.25 and it hasn't gone up since 2009.
"It's not acceptable," Holly Sklar, CEO of the advocacy group Business for a Fair Minimum Wage, told CNBC. "The whole point of the minimum wage is to have it go up regularly. It shouldn't sit still every year when the cost of living is going up. The minimum wage is losing value."
Data shows that in 1968, the federal minimum was equivalent to $10.90 in 2015 dollars, nearly $4 higher than today's rate.
Opponents to an increase in the minimum wage often claim that only teenagers make minimum wage; therefore, there's no need for it to be raised.
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