In Time both is and isn't an allegory for our own widening gap between rich and poor. On the one hand, the actual situation is very different — there's no unemployment in Niccol's future, because if you don't work you die. Labor costs, in real terms, are at rock bottom. One of the ways the system encourages poor people to die off is by engineering runaway inflation, so that just buying a cup of coffee shortens your life by four minutes. So it's not a picture of life in the Lesser Depression, with massive unemployment and borderline deflation — rather, it's a picture of a world where extreme laissez-faire capitalism has won. And yet, Will Salas proves that a hardcore capitalist world is actually fragile and precarious.
There's no middle class in this movie, at least not that we ever see — there's just the immortal few and the short-lived many. Which makes this movie the perfect metaphor for the idea of the 1 percent and the 99 percent. In real life, poverty does kill people, and even the middle class are one serious illness away from being wiped out financially. Etc. etc. etc. So maybe In Time will become the semi-official movie of Occupy Wall Street — it's not a bad piece of propaganda.
http://io9.com/5854241/in-time-really-is-occupy-wall-street-the-movie