It is equal in itself, but the fiat system existing breaks everything.

If I have nothing, I do labour, I earn something, the person with everything pays for labour.

The balances shift, granted not very fast.

But with fiat, if I am rich, I can get loans and new money for cheap and earn while I pay you while I do nothing.

You can't do that as a poor person, you have no credit score.

Also rich man can lobby for more benefits that gives him more access to free money. Maybe he can make a donatable charity... you pay for them to get food, the government tops up your donation with new money aka "your tax deductables". Rich man takes a large cut from all of that for facilitating the donation. Some of your money, some of tax money, and you feel good because I told you someone will eat.