The story you read is ["Lucifer"](http://www.isfdb.org/cgi-bin/title.cgi?97070) (aka "Lucifer!") by [E. C. Tubb](http://www.isfdb.org/cgi-bin/ea.cgi?113). Being in the US, you might have seen it in either the [1972 first printing](http://www.isfdb.org/cgi-bin/pl.cgi?256271) or the [1975 second printing](http://www.isfdb.org/cgi-bin/pl.cgi?260680) of the anthology [The Year's Best Horror Stories, No. 1](http://www.isfdb.org/cgi-bin/title.cgi?36106) edited by [Richard Davis](http://www.isfdb.org/cgi-bin/ea.cgi?10538).
(Tubb's 1999 story ["Fallen Angel"](http://www.isfdb.org/cgi-bin/title.cgi?748045) is a revised version of "Lucifer". I guess one or both of these stories could have inspired or influenced the 2013 [*Futurama*](https://en.wikipedia.org/wiki/Futurama) episode ["Meanwhile"](https://en.wikipedia.org/wiki/Meanwhile_(Futurama)).)