No, this is a good thing, assuming the overall global inflation rate (whatever that is) hasn't outpaced the increase. It's a measure of our increasing expectations for an acceptable human existence. Yes, "the poor will always be with you" unless you brutally cap individual rewards for results, but if the cutoff for "poor" 100 years ago was "literally starving to death" and the cutoff for "poor" today is "not literally starving to death" then I think that's a bar we should raise.

Sure, someday soon the global definition of extreme poverty will allow for clean water, adequate nutrition, clothing, and safe housing. Isn't this why we're doing... gestures around this?