I think it may be fair? This guy[1] explains how surplus of corporate profits are a mirror image of household/govt debt. Which is a direct transfer of wealth from everyone to the super-super-rich (not the 1%, but the 0.1 - 0.01%)

[1] The chart below shows how this works. The blue line at the top shows the “surplus” of corporations: corporate income minus expenses and net investment. We know this as corporate “free cash flow.” The red line shows combined “surplus” of other sectors: government, households, and foreign trading partners – in excess of their consumption and net investment. It’s negative, so in aggregate, they’re running a deficit. That deficit is the mirror image of the corporate surplus. This isn’t an accident. It’s just accounting (I’ve excluded a few tiny items for clarity): https://www.hussmanfunds.com/comment/mc251028/