I think financial education is a major problem. People need to be taught about investing. I'm talking long term investing, not day trading, crypto, etc. Start early, invest regularly. This is the simplest way for a normal person to build wealth within their lifetime. Wage increases aren't going to get you there.
Why have everyone buy a share of some companies and rely on that risky gamble to insure their future? The markets were never meant to be a way to redistribute wealth, but to sell risk away, to anyone willing to take them.
Using markets as the primary way to redistribute wealth seems convoluted at best, and yet another perversion of their original purpose.
Historically it's been done through wages, but those have been de facto frozen since the 1970s.