I call BS on your idea that the "quality" of life was better 40 years ago, you only feel that way because of bullshit "left-leaning" "progressive" propaganda that says you're life "should" be /much better/ than it is [with less work on your part], rather than the "same" or "a bit better" than it was back then...
The only reason it was "better" back in the 70s generation is because the American family values of "Christian morals" were still highly respected and followed by the majority across the nation. That's a luxury I continue to have up here in Alaska, which to this day is "Christian" by a very wide margin. It's not so much the religion itself, I'm actually at odds with the religious right, but the principles and philosophies that it teaches. The loss, and rejection, of those underpins of traditional "conservative" ideals are a /very/ important reason as to why we're in the state we are today; responsibility being key among them. It's like a game of Jenga, you can only pull out so many of the key values before the entire system starts to collapse, as we're seeing in America lately. Handing out free money, no matter what the good intentions are/were, was the "perfect storm" for exactly what we have today; self-entitled brats with zero responsibility who become more and more enamored to big government taking care of them and more and more envious and hateful of the wealthy/those who have more/better lives than they do - regardless of the circumstance that brought those folks into that success. That is the "hateful" platform of the left these days - and it's why I've lost nearly all respect for the D's, though thank goodness a bunch of "classical liberals" see that their party has been hijacked and are abandoning that sinking ship to become independents (which I personally feel is the most "proper" political affiliation today, all things considered.)
While there is no question that I'd very much like for there to be no poor in America, or even the world, that's just never going to happen. And it's a legitimately impossible goal when "the powers that be" [D's] continue to move the goal posts of what is 'poor.' Class warfare, OWS, income inequality, the whole 99% vs 1% is nothing but a bunch of bullshit drummed up by the D's to get votes because they ran out of legit "problems" to fight the R's with. {And don't get me wrong, the R's are just as guilty of "selling-out" to drum up votes, but their "sell-outs" have generally not been as "harmful" to as many folks. As a quick example, when the R's sold out to religious theocrat's [yes, that's an invented word, deal with it grammar nazis,] they "harmed" like 30% of the nation, when the D's sold out to "ID politics" they "harmed" 100% of the nation - and frankly the D's latest "sell out" to socialists and communists will harm the entire ******* world.}
When /you/ are talking about, the 70s (mid to late, maybe early 80s - but you also have to consider the earlier generation, the 60s, because that's the parents.) Back in the 70s and 80s people were hot for the capitalist American dream. Listen to the music of the time, watch the TV shows, you can see the blatant difference in "social ideology" and "social goals" between then and now. People back then wanted to get rich, they wanted to be successful, they wanted to be wealthy - that's a life goal that has some key built in benefits; responsibility first and foremost, but also learning from mistakes and failures, taking educated risks - which brought us innovations like cellphones, like Windows, like the internet, that in turn brought about the dot.com boom that /you/ are seeing and citing as "better" for the "less advantaged" than today. It wasn't the technology, you're correct, it was the way their /parents/ lived and believed that brought it all. And the internet itself brought up the entire world, because it opened up global trade in a way the world has never seen - on the one hand it helped alleviate poverty all across the world, on the other it brought foreign markets into America like we've never seen, nor coped with before - which again is a double sided blade in itself; it brought cheaper technologically advanced products, but that's at the cost of {individual} American's massive economic prowess [it was basically a bit of an equalizer as now American's money ultimately ends up in foreign nations as American's are buying products that had, through say the early 80s, largely been sold to them by mostly American companies, thus the "American" cash stayed mostly in "America's" economy.]
I figure it was mostly the 90s [at the risk of sounding a bit conspiracy theory, I actually suspect it was soviet propaganda/subversion,] the socialistic mentality has taken over the nation and stomped out that drive for success that always drove, and kept, America on the top prior to the 80s, and worse the communistic idea that the rich /stole/ from the workers, inherently joins forces, leading to young folks not wanting to be "rich" themselves, which means they don't have the /drive/ to succeed. The children of hot blooded, driven capitalists grew up in the luxury of their parents success; parents who had spent 30-60 years working their asses off to provide a "better" life for their kids. Their kids grew up with health insurance, yearly vacations, new cars, new phones, new computers, new walkmans/stereos, etc., [and we're talking about top of the line shit too because the "stuff" before computers is worlds below "modern" stuff and the speed of advancement with computer demand back then made even "the latest and greatest" cheap and available for the masses in supersonic time - speeds never seen before frankly] and the kids, wanted that "life style" of "the best of the best" to continue even after they moved out on their own (which back then was in the 16-20 range typically) - that's why hundreds of thousands, millions even, of idiots in their 30s are up to their ears in debt trying to "keep up" with the speed of tech advancement. This is an affliction/sickness you often see in "new middle-class" folks which I'll touch on later, but, do you remember the adage "keeping up with the Jones'?" How many people did you know who were "house poor," or who went bankrupt because they "couldn't" keep up, or how about all those sots who "made it big" then lost it all in dumb as **** ways {coke, gambling, etc.} Unfortunately, and sadly typically, the "new rich" and even the "new" upper and middle class of the 80s/90s, unlike the "wealthy elite" throughout pretty much time immortal, either didn't teach their kids the lessons /needed/ to be financially successful [99% of the time they foolishly presumed that the supersonic upward movement of the economy would continue forever], or perhaps it was the kids themselves [lured by aforementioned socialistic propaganda] simply blew off those lessons.
For example, my parents were wealthy, my grandparents were wealthy, my family has had generations to learn the basic lessons necessary for success (aka how to get, and /stay/, rich.) Contrary to popular belief of the left, my parents actually insisted that /I/ had to be able to "make it" on my own. They taught me the basics, the principles, the ideological drive for success, but also let me fail, HARD even. Example, they let me buy a two-wheel drive long bed truck for example [note I live in Alaska], which I promptly got stuck in a few snow banks and ditches, and rather quickly learned how to /not ******* do that/ because they wouldn't come dig me out either. My father made me change the tires every damn season (studs and summer), by myself, with a hand jack that literally weighed more than I did, he made me change my oil and transmission fluid, he made me do everything. And yea, at the time I hated it, I hated him because he never let my mom help me (call a tow truck to unstuck me, or take the truck to the mechanic and tire companies to change the shit - BUT he did all that because it was stuff that /he/ didn't learn how to do and he wanted to make sure that /I/ would be able to, and this is the key bit in my mind, if I couldn't afford to pay others to do it for me... That's a lesson that the "steady wealthy" teach their kids, that the "new rich" of the 70-80s [and even today] did no. It's a kind of "mental insurance" for when shit hits the fan, so you don't end up completely helpless and reliant upon others - aka you don't /need/ the government to help you because you learned to dig yourself out of that ditch.
The lefts biggest problem, prior to this recent turn to flat out communism and socialism, the "classical liberals" and even those who maybe just wanted a little democratic socialism in the form of Social Security and moderate welfare to help the elderly and disabled, was always staying power. D's just don't have anything BUT "welfare" to offer the majority of the nation (again LGBT issue stuff only really touches like 30% of the population, and that includes non-LGBT "supporters" and shit.) I think that's why they were so easily over-run by socialists, they've ***** footed around with other ideas; global warming... I mean climate change, illegal immigration acceptance, refugees, etc. but /none/ of those issues really "helps" the entire nation; they're little more than pet projects taken in purely to get votes - and if you /really/ examine the quagmire of conflicting "core" belief principles across the D spectrum, there is hypocrisy in nearly every single "platform" they support; it's laughable if you actually take a step back and think about it. (I could give some examples, but then I just come off as D-bashing and that's not my intention here. I actually like some of the D's classical changes; SSM was a life long fight for me up here, I'm a modern abolitionist [it's why I'm apposed to Islam in it's "current state"], I'm even on-board with a good deal of second-wave feminism [sexual equality, racial equality as a principle, though not in D's "method of achievement"], and many other "aspects" at their "core" - aka classical liberal ideals.)
I kind of don't blame the D's.... Okay well for the older "sell outs," this latest full-in communism/socialism thing is totally wrong and dangerous as **** so I condemn them for basically selling out American's future's and success just to get more political clout/power for their stupid party, but that's really just over the past decade [thanks globalists,] and it's only the past couple years that I stopped respecting their "side" and "position" and "intentions." I mean the D party's "remake" with JFK was all about "competing" with the R's wildly successful endorsement of raw capitalism; and if we're being completely honest here, D's only tend to win when there's a "hic-up" in the stock market that causes the economy to falter; the recession in 1958 brought in JFK in 1961, the oil crisis in 1973 [exasperated/prolonged by high gas prices during the buildup of the Iranian revolution] brought in Carter in 1977, the Iraqi invasion of Kuwait in 1990 caused the "shell shock" recession regarding oil prices and brought in Clinton in 1993, and of course the sub-prime mortgage crisis in 2007 brought in Obama. Recessions and market hic-ups dredge up all the "socialist" types to get to the booths and vote for "promised" handouts - if this core D voting block is making "enough" to pay their bills they just don't vote in any numbers, that's just the way it's been - so yea, the R's are dead right, "it's the economy stupid" - also why the D's are /terrified/ of Donald J. Trump, and unfortunately, consequently, why D's are opposed to American success...
How do you compete with something as glorious and beneficial to nearly 100% of the world population? The /only/ way is through class warfare, racial divide, and, essentially, hate and fear. The exact same reasons that I am not a R ironically; because they play the same stupid "hate and fear" games - though perhaps not as "harmful" to the world population because frankly they suck at it. They can't even get the majority of Christian's to hate gays their propaganda game is so weak - and more importantly, the vast majority of "R's" deeply believe in individual freedom, which includes allowing some folks to face "eternal damnation." Of course that's another factor in the D's losing their mind this year, Trump is, like the majority of Christian's of my generation and the one prior, "gay friendly" - which means they can't play the "R's hate gays" card anymore, their "whites hate blacks" card was too over played to be useful, their "Nazi's" card is laughable, and really all they have is "racist by proxy" a la if you're for a border wall or anti-illegal immigration "you're racist," which they try very, very hard to tie into "white supremacy," but that leaks water like a sieve due to the [punny] "elephant in the room" - it's about /national security/ not /race/ and all but the most partisan know it... Just like global warming... climate change failed because the science of "imminent catastrophe" is bullshit. They totally over-played their hand on that, they could have milked the **** out of it but they're impatient and reckless, yet another lesson D's and "new rich" parents don't pass down to their kids. Then what, transgender men in the little girls room; what a foolish ******* idea that was. So what's left, oh yeah, sexist - because the man who was worlds ahead of his peers on sexual equality, who put a woman in charge of half his financial empire, is totally a sexist... buahaha
... and I think I've typed for far too long so I'm just going to stop there.