The median American household and American has gotten significantly richer than in 2005, but in the 2020-23 period, income growth slowed due to the pandemic and the subsequent slow restart of the economy.
The last time we saw similar retractions were during recessions like the 1990-93 recession, the Dot Com Bust, and the Great Recession. Turns out the "vibe check" in the early 2020s were right.
Tl;dr - the median American feels poorer in the early 2020s than they did in 2019, but they have much more earning power than they ever did before 2018. I would not be surprised if this played an outsized role in voter dynamics in the 2024 election
Also, as at this point 1980 is 45 years ago - almost 2 generations, almost like using the 1960s as a frame of reference in 2005.
At this point we've been a country of dual earners in a household for 2 generations now. It's best to assume that is the default given the overlap.