Minimum wage in the US is grossly inadequate; if you factor in for inflation and convert to the same benchmark unit, the buying power of today's minimum wage is actually only 58 cents greater today than it was in 1955. And yet the cost of living has increased significantly compared to that, with the average price of a house or car rising in excess of 800%. Wages have increased in dollar amount as well by a similar percentage (about 817%), but of course inflation means that the buying power of that amount has not increased by the same percentage.
So the cost of living is going up faster than our ability to provide for ourselves; if we continue at this ratio of cost-to-wage increase, before long minimum wage will be a death sentence for anyone trying to provide for themselves, and taking a government job or college educated career will be the only realistic means of providing for oneself (and if you're the sole provider for a family of three or more, you can forget about minimum wage being enough).
For all the things that I never did
For all the places I never was
For all the people I never stopped
But there was nothing I could do..."