Here's what your beloved government has given you:
Getting it yet???
You pay, they play.
And yet you focus on WEALTH, not income.
Because it creates those distortions.
The real issue to anyone is how is the quality of life they live, and wealth is a changing part of that dynamic.
For most of us it takes a long time to accumulate wealth, but that doesn't mean that one isn't living well while doing so (the key is to not live above your means).
So
My parents have accumulated far more wealth than I have, but I have more income then they do.
For my Children, I have both more wealth and more income.
But eventually this will also change and eventually I will have more wealth than my parents and my children will eventually have more than I do.
But, the key point is that despite the huge differences in Wealth, we ALL live quite well because we have decent incomes (or in my parent's case, not as much income but decent savings coupled with very low expenses).
So we all have our own homes, cars, furniture, food, clothes, computers, phones, internet, toys, pets, vacations etc etc.
So even though there are many magnitudes difference between the wealth of my parents and the wealth of my children, you can't say our lives are much different.
Which is why wealth is a poor metric.
But one you like to use because it suggests things are much more unfair than they really are.
Also, there is no question, that each generation is living better as they enter the 3rd decade of their lives then the previous generation was at the same time in their lives.