The causes behind the relationship likely differ at each end of the income distribution. Below $50k, marginal increases in wealth drive utility primarily throug

The causes behind the relationship likely differ at each end of the income distribution. Below $50k, marginal increases in wealth drive utility primarily through improved material comfort. Above $250k, it becomes more and more about status as the driver of improved utility (e.g. status attenuates chronic stress). However, I believe part of the relationship below $50k is also status-related, in addition to the material comfort explanation. The people most opposed to the minimum wage are those earning just above it, presumably because it would decrease the status differential between them and the people earning less, which negatively impacts their genetic fitness. I'd also hypthesize that the correlation above $250k is stronger for men than women, due to status being the likely driver.