That is the Utilitarian approach, and there is good foundation for this philosophy. Obviously, the way our society is set up cannot possibly make EVERYONE happy, but the greatest majority happy. The only glitch is what if that happiness proves harmful to a minority...think slavery. Then you have the problem with strictly Utilitarian approaches. American fundamentals are founded in the individual and his/her pursuit of independence, freedom and happiness, and can that be accomplished within a Utilitarian view? What if individual rights upon societal happiness? Think of the argument to hold "terrorist suspects" in Gitmo? In a Utilitarian view, that might be warranted, but what about the Gitmo detainees rights?
Like most things in life, a balance is probably more reliable. Individual rights should be primary under societal happiness, balanced precariously by our court system.
Many philosophy classes.