IRS Statistics: 400 Families Earned an Average of $345 Million Each In One Yr Under Bush

[kpete]

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.

http://yglesias.thinkprogress.org/archives/2010/02/400-families-earned-an-average-of-345-million-each-in-2007.php

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.

http://openleft.com/diary/17439/irs-data-shows-richest-get-richer-see-their-income-tax-rates-drop

[jdlh8894]

1. For some reason

I kind of doubt if they"EARNED" it! JMO

[Zywiec]

2. How much less do you think they'll earn under Obama? n/t

[Frustratedlady]

3. And, how much did they fail to report or send overseas?

BTW, what happened to the Swiss Bank investigation? I thought there were a bunch who came forth and paid their rightful taxes...or was that for show?

I would guess our national debt could be paid down considerably if the IRS investigated Cayman Islands, Swiss banks, etc.

[Zenlitened]

4. But just look around at all those jobs they created!

They got richer and we all got trickled on.