Rich people create new wealth, their money is proactively being used to create new jobs either through goods, and services that they purchase, tools they use to create new machines to improve their companies, or through employment.
Wages stagnant because economic Over-Regulation causes companies to cut back on the one variable they have control over wages.
Young people don't have the same lobbying power simply because they're working, and don't have financial resources yet but once Gen-Z starts to hit their 40s, and 50s you will see a shift in younger demographics like Gen X, Millennials, and Gen Z start to run things.
Especially when the hypothetical Great Wealth Transfer Happens.
According to The House Budget Commitee Immigrants are a net fiscal drain.
(Link is to the PDF.) (Picture 1) https://budget.house.gov/download/the-cost-of-illegal-immigration-to-taxpayers
This includes strain on public resources for example The DMV.
The reason "everything is shit" is because of misallocated, misincentives, and poor market responses from Government manipulating signals.
TVs for example which are mostly unregulated have become cheaper, and better due to market efficiency whereas housing, medical care, and college have skyrocketed due to government manipulating both supply, and demand, increasing demand, and reducing supply, both done so artificially.
(Picture 2)
https://www.aei.org/carpe-diem/chart-of-the-day-or-century-8/
Video
Why American Healthcare is expensive:
But all in all is a hybrid of The Federal Reserve Money Printing, Selfish Boomers, Excessive Regulations, and Some immigrants that don't assimilate to our culture.
Profit Margins for different industries (Picture 3)
https://www.ft.com/content/7b210065-0444-3c2b-bc2a-cdcfad2ae2f7
