Can we do better? A lot better. Is communism the way? God no. Now if you tell me America needs to reevaluate is social spending and priorities, I am totally on board.
Obviously "rising tide" has many meanings, but:
In the US, the poverty rate has remained fairly consistent since about 1970. Purchasing power has remained stagnant since about the same time.
This was true until the 1980s in the US. I remember a very popular national politician showing that it wasn't true that the poor were getting poorer, they were just getting richer at a much slower rate.
Then, in his eight years in office, he oversaw a shift so that now the poor are actually getting poorer, while the rich are getting richer at a far faster rate than they were.
Also, nobody mentioned communism but you. The subject under discussion was socialism.