Earlier quoted context omitted.
The economic gains are being absorbed by the billionaires who are running the asylum
the billionaires have a lot of money as individual anomalies, but most wealth is generated by corporations that must pay market rates for labor or else they will get undercut by other businesses; labor is never cheap. Thus, those at the upper-echelons of the working-class--managers, senior engineers, etc.--as a class, hold the most significant stores of wealth in the US, perhaps far more than all the billionaires put…
We're literally talking about a few people having more wealth than the bottom half of the country, and using that to have increasingly overwhelming political power. Most of the managers and engineers are still labor, even if they're able to afford a house in the bay area.
Worry more about the people who can buy national elections, who make their money by owning things, not the ones with higher salaries.