There are two big issues:
* It is very hard to gut-feel wealth distribution (eg, http://marketrealist.com/2013/10/shutdown-101-perceived-weal...). Identifying who the US rich requires more study of statistics than most people have time for - so this assertion is about a group that is difficult to identify. If most of the US rich were in fact living quietly on family wealth from a generation ago, how would this be identified? How do we verify that these 'rich people' are indeed meritorious? They might not be.
* All of history is a very long time. Although the US is technologically the most advanced nation we have ever seen, to claim that it rewards the meritous more than any nation in history is probably wrong, and suggests grandparent isn't making a point based on careful thought. We have had democracy for more than 2,000 years, the US has only been around for ~300.
[1] https://www.nytimes.com/books/first/s/stanley-millionaire.ht...
Most of the studies I've seen reach the opposite conclusion, that parental lifetime income highly predicts the income of their children. For example, a child of parents in the 90th percentile has an expected income of over $100K, while a child of parents in the 10th percentile has an expected income of less than $40K.
http://www.theatlantic.com/business/archive/2015/07/america-... (which comes from http://inequality.stanford.edu/sites/default/files/economic_...)
Income isn't wealth, but I'd be surprised if the correlation isn't strong. What percentage of individuals in the US of 90th percent household wealth came from families in the top half versus bottom half growing up? I don't know off hand, but if I had to bet blindly on outcomes I'd strongly favor betting on the individual who started out better off.
Typically between 2/3 and 3/4 of all members of the Forbes 400 for example, are self-made. Roughly half of all members in that group originate from the middle class or lower.
Interestingly, Americans have more belief that their society is a meritocracy than most developed nations and so are especially unaware of the problem. I submit it is this commonly held perception rather than data that is informing you comment.
Obviously in the past, when democracies were even fewer in number, the situation may have been different.
Here[1] you'll find a bounty of links supporting my point were one to take time time to read it rather than instantly and silently down voting what one doesnt want to know.
[1]https://en.wikipedia.org/wiki/Social_mobility#Patterns_of_mo...
The US also already has among the highest median income of any developed nation, and nearly the highest median disposable income. The US also has a higher median household net worth than either Germany or Sweden. That would inherently make it more difficult for the US to keep pushing the boulder up the hill.
Further, in the US more people are moving up out of the middle class and into the higher income brackets, than are moving down and out of it. That has been true for 40 years running now. Given the immense scale, income and wealth involved in that result, it's a staggering accomplishment.
Likewise in the last 40 years, the US per capita GDP has risen close to 70% while the median income has risen less then 20%. But the problem of declining social mobility and rising inequality is not remotely unique to the US.
At least as disturbing is the resultant problem of the steady rise and now mainstreaming of politically extreme views in several western countries in (including the current presidential race obviously). I suggest the economic underpinnings of this problem are issues that we really ought to look at objectively rather than waving the flag and insisting we live in the best of all possible wolds.