Money is Irrelevant to Happiness? Tell Congress

Here's an interesting quote supported by science:

"A wealth of data in recent decades has shown that once personal wealth exceeds about $12,000 a year, more money produces virtually no increase in life satisfaction."

Does that mean that when we make more than $12,000 per year, we're happy? If so, then wouldn't you think Congress would want happy voters? Minimum wage-earners take home only $10,712 per year. So why didn't Congress pass the new $7.25 per hour minimum wage that would raise this group of voters to a salary of $15,080 per year—well above the happiness quotient? Don't unhappy people vote?

And why did Congress vote themselves a raise that brings their salary to over $168,000 per year if it isn't going to make them any happier?

Sounds like fuzzy science to me.

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