The numbers are in real USD, not nominal. So in reality, it's a huge fallacy to say that we're so much worse off that in the 1970s. We're almost exactly the same as the 1970s.
The main difference to point out here is that the 1970s 30-year-olds made much more real USD than their parents' generation, while 30-year-olds today are making almost exactly the same. Just because income isn't growing as much doesn't mean the 30-year-olds today are worse off.
If the economy was static then zero real growth is fine. However, not all costs rise 1:1 with inflation. Housing for example requires land which is zero sum so when people fall behind they really are worse of in real terms.
The numbers are in real USD, not nominal. So in reality, it's a huge fallacy to say that we're so much worse off that in the 1970s. We're almost exactly the same as the 1970s.
The main difference to point out here is that the 1970s 30-year-olds made much more real USD than their parents' generation, while 30-year-olds today are making almost exactly the same. Just because income isn't growing as much doesn't mean the 30-year-olds today are worse off.