Time to bury that chestnut. The generation that grew up during the Great Depression did not enjoy the life their parents had in the Roaring Twenties. Since the twentieth century prosperity has not followed a straight upward track.
One thing we know from history--raising taxes and gubmint spending now will guarantee not only extended misery (stagflation) but destruction of the dollar as well.
Your timing is off. What you said about previous generations is not correct. My parents, from the roaring twenties, were the parents in the depression of the thirties. I have done much better than they. My children have done better than me. My grandchildren are looking for jobs with a mountain of college debt. The solution is jobs. If industry does not hire in this country then government is the only alternative. Now that’s a sad commentary on today. Things went quite well for my generation working in private industry. People really don’t want to depend on the government. A working middle class supported Reagan. An unemployment middle class supported Obama. As for taxes, end spending on the rest of the world would go a long way in making money available to Americans.
Moreover, we thought America had seen its best days back when the communist Carter was in office. They kept telling us so. But then here come Ronald Reagan, mmmmm, mmmmm, mmmmm. He told us that liberals weren’t really ignorant, they just knew so much that just wasn’t so. And that it was Morning in America. And so it was.