I now make $215K/year and can spend $500 on a really nice dinner on a whim for me and my wife and not even feel the need to budget for it. I can have a top-of-the-line gaming PC and play all my games at 100+ fps with maximum detail settings.
I'm a fuckton happier now than then.
The way I see it, there are really only two people that truly believe (or at least claim to believe) that money doesn't buy happiness:
1. Business owners that use it as an excuse to keep wages low. Just convince the workers that a higher wage won't make them happier!
2. Poor people that tell it to themselves to cope with being poor.
Certainly, you reach a point of diminishing returns. $100M won't make you 10x as happy as $10M. But I know there's some article that's been passed around a LOT that says the diminishing returns begins at $70K/year, and that's just flat out wrong. $70K/year won't even buy a house in most cities.