One could not make that claim if one is concerned with facts. That is some illogical, untrue, propagandist nonsense.

It could be true that wealth is entirely concentrated in the 1%, but it IS not true. There is more "inequality" simply because there is a bigger gap from 100k to 1million than from 10k to 100k. But the first group is better off, and the "poor" in that group are richer than the poor in the second.

And the fact is richer demographics have fewer kids.