That money does not make us happier, once our basic needs are met, is a commonplace overwhelmingly confirmed by sociological evidence. Bigger incomes do not yield an increase in feelings of satisfaction or well-being, at least for populations who are above a poverty or subsistence level. This cannot be explained simply by the fact that people have to work harder to earn more money. Well-being depends upon health, membership in a community in which one feels secure, friends, faith, family, love, and virtues that money cannot buy.
2. If "utility" has anything to do with happiness, above the poverty line the long-term marginal utility of money is almost zero.