This song is actually written by Lee Adams and Charles Strouse, who are known for Broadway’s “Bye Bye Birdie.” Of course, it’s performed by actors Carroll O’Connor and Jean Stapleton, and is the theme song from the 1970s television sitcom, “All In The Family.”
All In The Family” was set in the context of social changes in the 1970s, such as related to women’s liberation (feminism) and racial equality.
They lyrics express views similar to the ideology of conservatism, which dovetail with the views of the main character, Archie Bunker. Archie resisted the 1970s changes!
That’s because conservatism maintains reverence for the way things were, feeling that modern times change too fast, with untested, unproven ideas and reforms.
Specifically to the times, Archie felt that younger people had become dependent on government to bring them up and support them (“didn’t need no welfare state, everybody pulled their weight…” But in the past, people took care of themselves with initiative and elbow grease.
And the line, “Gee, our old LaSalle ran great”? That’s a reference to a Buick automobile.