The expression evolved over time to connote the opposite and nowadays implies quite a comfortable – even luxurious – existence.
A fun aside: It’s a Dog’s Life is also a 1955 American film that combines both the destitute and privileged lifestyle aspects of the expression. In the film, a bull terrier named Wildfire (also his stage name) lives a scrappy life on the street. Eventually, he catches the eye and heart of a kindly animal caregiver played by prolific British actor Edmund Gwenn. Gwenn began his film career in 1916, hitting the jackpot in 1947 portraying “Kris Kringle” in the holiday classic Miracle on 34th Street. The role…