Isn’t it the purpose of all life about giving your offspring a better chance?

Yeap, but doesn’t mean you willfully or otherwise create a worse situation for someone else

Maybe it’s not about trying to reach some theoretical absolute equity, but keeping the distribution at a healthy balance so that one side is not completely locked out of the game. That’s healthier for the whole community too since healthy competition ensures there’s progress.

Equity is an ideal we may never reach, but the point is we keep trying to reach it. There’s no such thing as a “healthy distribution” of exploitable working class.

The economic models built on exploitation of cheap labor are a relic of the past, and humanity does not need them to ensure future intellectual or cultural growth. We can have capitalism and social welfare together. We can even have Veblen goods without essentially making slaves of other people.