We consider the link between poverty and subjective well-being, and focus in particular on the role of time. We use … satisfaction falls with both the incidence and intensity of contemporaneous poverty. Second, poverty scars: those who have been … poor in the past report lower life satisfaction today, even when out of poverty. Last, the order of poverty spells matters …

head tax), and exogenous poverty-line rules (such as the leveling tax, and some of its possible compromises with the …