Answer: It should be raised, because the rate at which the cost of living has raised (rent, bills, inflation, etc) has not matched the slow crawl that is the federal minimum wage. States individually can have a minimum wage that is above federal, and many are working towards higher wages for hourly jobs, but the fact of the matter is many Americans are living paycheck to paycheck. There was a proposed bill several years ago by President Obama that would have raised the FMW to 10 dollars an hour, but did not pass. There have been efforts made to change it but they don't get very far.