This is complete nonsense.

Large TVs in 2020 cost just as much as small TVs did in the 70s (if not less), adding air bags to a car costs mere hundreds of dollars, and is ammortized over 20 years, and cancelling your phone plan is not going to let you support a family of four on a single blue-collar income. Shit, cancelling your phone plan won't even compensate for the annual growth in your health insurance premiums - which is something that compounds every year.

"Air bags is amortized over 20 years" Cars don't last 20 years, generally... 5-10. And airbags are one of hundreds of "improvements".

TVs are an example of the plethora of technology that most homes have. From microwaves to air conditioners to cell phones...

"Canceling one thing isn't going to support your family" Which is why I didn't mention one thing... I mentioned a handful of things. A host of "modern conveniences" that add up.

Education, health insurance and other things cost more? Those are also things that the government has stepped in to make more affordable as well... which is a massive topic in of itself.

My main point stands... quality of life and cost of life has risen with hundreds of costs that add up (a mere 100 for an air bag... a mere couple bucks a month for data on your phone... a mere 5 for text messages... a mere 100 for a microwave... etc.etc.etc.etc).

Remove all the "extra" stuff that's standard today compared to 50 years ago and even with outliers (IE Health Insurance), you'll still be much closer to being able to afford the same quality of life as "way back then".

The numbers don't add up. This is essentially the math which blames avocado toast for why millennials aren't buying homes. If the price of university has doubled relative to median wages in the past 50 years, you're going to have to buy an awful lot of smartphones every year to account for that difference.

The numbers add up when you add in healthcare, which has captured an increasing portion of workers compensation.

This is simply not true. Education, healthcare, and housing costs have far outpaced inflation.

People didn't buy nearly as much of those three things in 1970.

What do you mean? The home ownership is on the decline, especially among younger people, and "one unit of education" (i.e. a bachelors') hasn't changed. Yes more people are going to university on average, but the price of higher ed is not regulated by scarcity.