You don’t have to wonder. The data is out there.

While there are “more millionaires” than before, that’s a bogus metric due to inflation. You have to look at concentration of wealth as a percentage and a ratio between. Wealthy and poor and “middle class”.

If you do that it’s obvious what the issue is; wages have stayed very flat for the poor and middle class and almost all wealth gain has been concentrated in the top very few percent. Because most wealth gain is happening in finance and investing, and like I said wages have stayed flat for many decades.