Despite a record stock market and strong economic growth, poverty remains high in the United States. One out of five children live below the offical poverty line in the richest nation on earth. The population of Americaâs working poor has grown because the wage floor has failed to keep pace with the cost of living over the last three decades. The federal minimum wage, which in 1968 stood at 86% of the wage necessary to lift a worker and his or her family to the official poverty line for a family of four, today represents less than 64% of that "living wage." The federal minimum wage, presently $5.15 an hour, would need to be raised to $8.20 an hour simply to meet the federal poverty level. In many higher-cost regions, a true living wage is substantially higher (up to $18 per hour).