rssHow Much Happiness Money Will Buy
Tuesday, September 07, 2010 at 6:12 pm
- 49 Comments
An interesting review of the scientific literature from The Associated Press:
People’s emotional well-being — happiness — increases along with their income up to about $75,000, researchers report in Tuesday’s edition of Proceedings of the National Academy of Sciences.
For folks making less than that, said Angus Deaton, an economist at the Center for Health and Wellbeing at Princeton University, “Stuff is so in your face it’s hard to be happy. It interferes with your enjoyment.”
Deaton and Daniel Kahneman reviewed surveys of 450,000 Americans conducted in 2008 and 2009 for the Gallup-Healthways Well-Being Index that included questions on people’s day-to-day happiness and their overall life satisfaction.
Happiness got better as income rose but the effect leveled out at $75,000, Deaton said. On the other hand, their overall sense of success or well-being continued to rise as their earnings grew beyond that point.
“Giving people more income beyond 75K is not going to do much for their daily mood … but it is going to make them feel they have a better life,” Deaton said in an interview.
Not surprisingly, someone who moves from a $100,000-a-year job to one paying $200,000 realizes an improved sense of success. That doesn’t necessarily mean they are happier day to day, Deaton said.
So just how many American workers make this happiness threshold? About 53 million out of 120 million tax filers in 2008.
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49 Comments
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[...] Read More.. News about World2015 WASHINGTON, D.C., February 11, 2010 (LifeSiteNews.com) – A … remarked to me that he regards the Bible as so much hooey … Donate money and sign petitions online for human rights … This entry was posted on Tuesday, September 7th, 2010 at 10:07 pm and is filed under Business, Health. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site. Tags: -and, angus, angus-deaton, center-, emotional-well-being, health, income, increases-along, national, national-academy, proceedings, sciences-, with-their Related Posts:Money hits the spot – till 75K – NorthJersey.comReport: Money can buy you happiness, to a point – KLTVReport: Money can buy you happiness, to a point – Yahoo FinanceReport: Money can buy you happiness, to a point – San Jose Mercury NewsHappiness all the same after $75,000 – Chicago Sun-TimesFeeling blue? Hope for more green – Boston HeraldMoney boosts happy feelings – Washington TimesMoney boosts happy feelings – Washington TimesHappiness costs $75,000/yr. in U.S. – United Press InternationalArk. receives money to crack down on premium hikes – Today’s THV [...]
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Comment posted September 8, 2010 @ 1:50 am
Add a bit for inflation, make it a 100K per happy person, 200K for a family of at least 3. After that, tax everyone at Reagan's rates. And don't forget to calculate the same rates for *all* income — including investments and inheritance.
Yeah, my family would get hit (a bit) by the higher taxes. But, if I could have easier access to sensibly priced healthcare while my grandchildren didn't have to become poster children of modern version of indentured servants to pay for their education… I'd be willing.
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Comment posted September 8, 2010 @ 3:19 am
How many of those 53-million who made $75,000 in '08 will not make nearly that much in '09 filings and '10 filing? Will it be in the millions.
btw, great job search advice at http://www.jobtalkameriac.com
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