there have never been more millionaires and there have never been more children of millionaires, to say nothing of the fact that the average laborer can afford things today that the average millionaire could not afford ten or twenty years ago.
Some less creature-comfort things unfortunately have outpaced wages in the US: housing, education, and health care coming in at #1.
Granted, we have medicines and technologies we did not before.
Housing costs are high in some areas, but still incredibly low in others. The internet has enabled knowledge workers to work remotely so they can live in low cost areas.