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People probably had somewhat more disposable income since the tax bite wasn't as bad back then. In his book Family and Nation Daniel Moynihan said in 1953 or so, the first 3/4 of an average family's income was exempt from taxation, by the 1980s the tax threshold was down to the first third. Also the proliferation of state and local sales taxes, income taxes, wages taxes, etc that came about in the 60s and 70s took a big bite out of buying power.
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