Here's my main argument, that doesn't get said nearly enough - that the usual citing of household income is deeply misleading - this researcher found that after adjusting for size of households and noncash income, household income rose 50%!!!!! from 1969 to 2007.
http://www.forbes.com/sites/scottwinship/2015/07/07/whether-and-how-to-adjust-income-trends-for-declining-household-size/#7a82b3356ba9
"While the Census Bureau estimates suggest that median household income rose by just 10 percent from 1969 to 2013, when the PCE is used for inflation adjustment and incomes are adjusted for the number of adults in a household, the increase was 30 percent. The 10 percent rise the Census Bureau estimates translates into a $4,800 increase. A 30 percent rise in unadjusted terms would amount to $14,400—quite a difference.
Indeed, this estimate also understates the improvement in living standards, for a variety of reasons, including the failure to take health insurance benefits, noncash government transfers, and taxes into account and the comparison of 1969 (a business cycle peak) to 2013 (only a few years into the recovery). My preferred estimates that address these issues indicate that median disposable size-adjusted household income rose by around 50 percent from 1969 to 2007.*"