Never a Jw,, the standard of living has gone up do to technology and credit. One has to remember that the banks have made it easier for people to use credit then back in the early 70’. Also the changes in the tax laws allow business owners to spend business money and convert to personal with out the high taxes like in the past.
These changes seem good but there just smoke and mirrors. The real problem is wages have not kept pace with inflation, that’s why it takes two people working full time in a household and the use of credit to equal the standard of income via inflation of the early 70’s back though the 50’s.