Money can buy happiness, but not unconditionally
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Money can buy happiness, but not unconditionally
1–10 of 84 posts
Re: Money can buy happiness, but not unconditionally
#2It absolutely can. Even without the categories the author tracked, a decrease in overall financial anxiety leads to an increase in happiness, which perhaps culminates with the point where one no longer needs to work in order to live.
Re: Money can buy happiness, but not unconditionally
#3I don't think anyone contests the fact that money increases happiness _up to a point_.
Once you have full financial security though, it becomes quite nonlinear. Outside of bonkers areas, 1 million NW gets you retirement. 10 million NW gets you that plus... toys.
It's a major reason why taxation should focus on the rich (as opposed to the 'well off' e.g. high incomes). They really will not notice it aside from ideological opposition.
Re: Money can buy happiness, but not unconditionally
#4It absolutely can. Even without the categories the author tracked, a decrease in overall financial anxiety leads to an increase in happiness, which perhaps culminates with the point where one no longer needs to work in order to live.
I think a lot of people realize that "decreasing financial anxiety" would help with happiness, but I think for many, the first step is an honest look at expenses and understanding where their money goes. That always seems like the blocker.
Re: Money can buy happiness, but not unconditionally
#5I don't think anyone contests the fact that money increases happiness _up to a point_. Once you have full financial security though, it becomes quite nonlinear. Outside of bonkers areas, 1 million NW gets you retirement. 10 million NW gets you that plus... toys. It's a major reason why taxation should focus on the rich (as opposed to the 'well off' e.g. high incomes). They really will not notice it aside from ideolog…
Why has taxes only significantly affect low to middle income people/families?
Re: Money can buy happiness, but not unconditionally
#6I don't think anyone contests the fact that money increases happiness _up to a point_. Once you have full financial security though, it becomes quite nonlinear. Outside of bonkers areas, 1 million NW gets you retirement. 10 million NW gets you that plus... toys. It's a major reason why taxation should focus on the rich (as opposed to the 'well off' e.g. high incomes). They really will not notice it aside from ideolog…
Why has taxes only significantly affect low to middle income people/families?
If you are not financially independent then taxation (on income and consumption) directly reduces your ability to get to such a state.
If you are financially independent then it reduces the number, or type of activities/goods you can partake in or buy.
I offer without proof the claim that being free in the economic sense is a far greater determinant of happiness.
Re: Money can buy happiness, but not unconditionally
#7I don't think anyone contests the fact that money increases happiness _up to a point_. Once you have full financial security though, it becomes quite nonlinear. Outside of bonkers areas, 1 million NW gets you retirement. 10 million NW gets you that plus... toys. It's a major reason why taxation should focus on the rich (as opposed to the 'well off' e.g. high incomes). They really will not notice it aside from ideolog…
Taxes already do focus on the wealthy with progressive taxes (in many countries), though. From an American perspective, the top federal income tax bracket is 37%. The top state income tax rate can be anywhere from 0% to 12.3% (California), so in total you can pay up to 49.3% of a potion of your income in taxes.
In America, the top 1% paid 45.7% of total income tax in 2015 [1] (earning 17% of "expanded cash income"), so you're already talking about a rate over proportionally double.
[1] https://www.cnbc.com/2015/04/13/top-1-pay-nearly-half-of-fed...
Re: Money can buy happiness, but not unconditionally
#8I don't think anyone contests the fact that money increases happiness _up to a point_. Once you have full financial security though, it becomes quite nonlinear. Outside of bonkers areas, 1 million NW gets you retirement. 10 million NW gets you that plus... toys. It's a major reason why taxation should focus on the rich (as opposed to the 'well off' e.g. high incomes). They really will not notice it aside from ideolog…
Are you speaking from personal experience or is this just what you've heard elsewhere?
I've still not reached the point where more money hasn't increased my happiness, however I'm definitely making far more than an above-average wage in London.
I think a great number of people could be happier with more money assuming they have good ideas on how they can spend their money to improve their lives.
Re: Money can buy happiness, but not unconditionally
#9Money can't buy happiness, the lack of money is a source of "unhappiness", totally different.
Re: Money can buy happiness, but not unconditionally
#10I don't think anyone contests the fact that money increases happiness _up to a point_. Once you have full financial security though, it becomes quite nonlinear. Outside of bonkers areas, 1 million NW gets you retirement. 10 million NW gets you that plus... toys. It's a major reason why taxation should focus on the rich (as opposed to the 'well off' e.g. high incomes). They really will not notice it aside from ideolog…
Why has taxes only significantly affect low to middle income people/families?
Because 30% tax off a $1,500 a month salary is a lot worse for your chances of survival/living a decent life vs if you had a salary/income of $15,000+ a month.