While the old adage says that money can't buy happiness, several studies have determined that the more your income increases, the happier you are, up untilof more than 40,000 US adults aged 30 and over, my colleague and I found an even deeper relationship between money and happiness.
Because the survey data spanned five decades, from 1972 to 2016, we were also able to see if the link between money and happiness changed over the years. That's where things got interesting: Today, money and happiness are more strongly related than they were in the past. It seems money buys more happiness than it used to.We decided to look at happiness trends through the lens of class, specifically via income and education.
Among white Americans in the 1970s, adults with and without a college degree were equally likely to say they were "very happy" — around 40%. But by the 2010s, there was an education gap in happiness: Only 29% of those without a degree said they were very happy, compared with 40% of those with a degree. The same was true for income: The difference in happiness by income level grew steadily larger from the 1970s to the 2010s.
The happiness of Black Americans with more education and income increased from the 1970s to the 2010s, while the happiness of those with less education and income stayed steady. Thus, a small happiness gap by income level in the 1970s became a larger gap by the 2010s for Black Americans. Furthermore, unlike previous studies, there was no happiness plateau or saturation at higher levels of income. For example, adults making $160,000 or more a year in 2020 dollars were happier than those making between $115,000 and $160,000.There are likely many reasons for these trends. For one, income inequality has grown: The rich have gotten richer, and the poor have gotten poorer.
AndrewYang TheConversation Every bit of data suggests we should do a UBI. If that was all that stopped us we'd have had it decades ago. Poverty is expensive to the poor and profitable to the owners.
HumanityForward TheConversation
AndrewYang TheConversation If enacting UBI includes eradicating all social safety net programs, including Social Security, Medicare, Medicaid, as well as housing and agricultural subsidies, I’m all for it.
AndrewYang TheConversation Of course...money solves a lot of problems.
TheConversation Right to basic income 👌
TheConversation Turning the entire nation into dependent children will only lead to abuse.
TheConversation STUPID.
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