Indeed. The modern meaning of the word "liberal" is not at all what the original meaning was, which was more like what "libertarian" means now. Whether the usage evolved, or those calling themselves "liberals" changed, is debatable.
I do know that the Democratic Party of my youth, which evoked images of blue-collar workers, union members, farmers, and other working people, is not the Democratic Party of today, which seems largely to consist of wealthy left-wing socialists who rail against capitalism and those who are wealthy. At least Republican millionaire politicians are consistent. ;)
A couple of interesting charts--don't know when they're dated:
Millionaires in the Senate. Over 25 percent of the Senate are millionaires: 15 Democrats, 9 Republicans.
Millionaires in the House
Off Topic » in reply to A final word
Liberal then and now