Researchers Say Happiness Costs $75K

SpuriousLogic writes "Does happiness rise with income? In one of the more scientific attempts to answer that question, researchers from Princeton have put a price on happiness. It's about $75,000 in income a year. They found that not having enough money definitely causes emotional pain and unhappiness. But, after reaching an income of about $75,000 per year, money can't buy happiness. More money can, however, help people view their lives as successful or better. The study found that people's evaluations of their lives improved steadily with annual income. But the quality of their everyday experiences — their feelings — did not improve above an income of $75,000 a year. As income decreased from $75,000, people reported decreasing happiness and increasing sadness, as well as stress. The study found that being divorced, being sick and other painful experiences have worse effects on a poor person than on a wealthier one."

Comments

Re:cheap shot

[spun]

Well, according to this research, taking money away from those making quite a bit more than $75k per year and giving it to those making quite a bit less would raise total happiness. Let's reverse the policies of upwards wealth transfer put into place by the wealthy. Let's go back to the 90% marginal tax rate on the highest earners we had in the 50s. The system worked better for them, they should pay more because they got more from society. Let's stop letting the rich set policy that benefits them at our expense. We need to re-transfer the wealth they have spent the last fifty years "transferring" to themselves. Remember, taking back what was stolen from you is not stealing.

Re:Double what you are earning

[Trepidity]

Man, if $75k is poverty in NYC then 2/3 of NYC lives in poverty! Is it really the case that only the top third of New Yorkers can be said to be non-poor?

(The median income for the city is $48k, fwiw. Even for Manhattan, the median is $65k.)