We have heard much in the press lately about the American taxpayer being forced to rescue the sharpies on Wall Street from their own greed and irresponsibility. Anti-bailout sentiment cuts "across class lines"� on Main Street because "the taxpayers are on the hook for the bad judgment of others,"� as the Washington Post put it.

Now for a reality check. Many Americans probably won't pay a cent of the cost of this bailout. That's because a rapidly increasing percentage of U.S. households legally pay no income taxes, and many others pay so little in taxes that they already get back more from the federal government in services than they send to Washington. The number of taxpayers who generate a surplus for the...  full article