Income inequality has been rapidly on the rise since the 1970s. There have unfortunately always been people who have struggled financially to make ends meet. But during the middle parts of the 20th century (post-depression era), things were demonstrably improving for a lot of people in significant ways. As the aforementioned chart notes however, things slipped and poverty has been on the rise since then.
And no it doesn't have to be this way. At absolute bare minimum, poverty and income inequality can be dramatically reduced. It has been before, and it's very possible to do much better. The trick is simply not letting up when you're making solid headway and allowing things to swing back the other direction.
Society has breaking points as to what it's willing to tolerate from those at the very top. They've been broken countless times throughout human history, plenty of examples even within the past couple hundred years. The chart above represents a small handful of very wealthy people playing with matches while sitting atop a tiny rock surrounded by an ocean of gasoline.