400 Families Earned an Average of $345 Million Each in 2007

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"400 Families Earned an Average of $345 Million Each in 2007"

That God George W Bush gave these people some much needed tax relief:

The average income reported by the 400 highest-earning U.S. households grew to almost $345 million in 2007, up 31 percent from a year earlier, Internal Revenue Service statistics show.

That means that the top 400 households together earned $138 billion in 2007. By contrast, according to the Consumer Expenditure Survey the 24 million households who comprise the bottom fifth of the income distribution together hauled in about $247 billion.


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