Average Income Among America’s 400 Richest Dropped 25% In One Year

Guess who’s making about $202.4 million? Not you, unless you happen to be among the 400 richest tax filers in the nation. While it might bum you out a bit not to be rolling around in piles of cash, those who live like Richie Rich are likely feeling a bit blue about the news because that 2009 average is down 25% from 2008 — and down from a peak of $344.8 million in 2007.

According to the latest tax data from the Internal Revenue Service in its annual analysis of the 400 filers with the highest adjust gross incomes, the rich made an average of $270.5 million in 2008. They might’ve made even more than that, as the AGI doesn’t include tax-exempt income, reports CNNMoney.

While we might grumble over paying taxes, if you were in the top 400, you’d have handed over about $41 million in 2009 in federal income taxes. Mind boggled yet?

That dip in income for the super wealthy could’ve had an effect on how free they were with their cash, as charitable deductions dropped by 28% from the year before.

I would still settle for the $202 million, hands down.

Average income of super rich: $202.4 million [CNNMoney]

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