Today, it is too much. We are now a Nation with a wealthy ruling class. This state of affairs is anti-democratic. See my blog on topic.
https://www.theatlantic.com/business/archive/2015/11/stiglitz-heres-how-to-fix-inequality/413761/
Also see Stiglitz book on topic.
https://www.nytimes.com/2012/08/05/books/review/the-price-of-inequality-by-joseph-e-stiglitz.html
Stiglitz TED Talk on Youtube
https://www.youtube.com/watch?v=GYHT4zJsCdo
https://inequality.org/great-divide/minimum-decency-need-maximum-wage/