It depends on how inequalities is defined. But from the wealth distribution point of view, today’s wealth distribution skews much more towards the top. Although the lowest living standards improve thanks to the technology advancement.
https://www.mediamatters.org/fox-nation/fox-cites-ownership-...
The trope is that having any store of value makes you wealthy; not the case : wealth is generated through financial value
Bill O'Reilly is just a pundit, not some maker of policy or human truth. He's a talking head, and not a particularly eloquent one.