it is true
Concede to this. My apology offered. Checked with local (retired) electrician and he confirms this point. His thoughts on using 220v for homes are: it isn't needed. Theoretically, you could do the same 408-440v and drop wires sizes down into the 18ga range. With amp draws halved again. This is definately a bad idea.
On other notes however:
The US dropped 220v wiring for most homes in the seventies. Usual application was a three wire run and split for 110-120 per leg. Deemed dangerous because of lower latentcy between the sides. In other words, you get hit by this stuff there is a much greater risk of death. Plain and simple fact. It is now illegal to wire homes in this manner. It is also unlikely to be brought back anytime soon. People are dangerous enough on their own without throwing in some extra voltage to boot.
Have you ever made a simple mistake with power tool? I did once. Being in my line of work involves using tools that are, or can be, lethal of their own accord. Cutting a 2x piece one day, I set the saw down without looking and had the cord, which always tends to loop where you don't want it to, get caught in the blade. First the inertial forces of nature take over and try to make it cartwheel. Until the cord jambs the blade. At almost the same instant, there is a crack from the cord being severed with the blade. Better 110-120v then 220v in this case.
Another example:
Twice this has happened to me. Extension cords that we use at work are sometimes prone to slightly pulling apart where joined. Not usually a big deal until you drag that same seperation over a steel track used in steel stud framing. The leg of the track sticking up is thin enough to fit in this gap and make contact causing instant short circuit and welding phenomenon. 220v used in this cause could have been quite dangerous if someone where to be touching another stud somewhere down the line.
Have also seen a guy standing on a scaffold (with wheels) move it without looking and have it jerk 277v wire out of the wirenuts and make contact just mere inches from his body. Though not residential in any way, the sound and flash that resulted convinced him to use more prudence when rolling it around after that. This one used up one of his nine lives on that day.
And not so common anymore:
When I first started doing this kind of thing, early 80's, GFCI protection was not as strictly enforced as it is now. I can recall numerous occasions when conditions were wet, grab the ol' saw, squeeze the trigger and get zapped. Drop the saw, and hope it doesn't land on your foot, leg, or whatever else is in its path. 220v would have been much more dangerous here as well. Just from the shock standpoint alone.
I still am not convinced that the US will, or should, step up to something will end up killing, or injuring, more people than what it does now. Where's the cost savings in that?