Did Micheal Moore tell you that? I'd like to see a source for that claim.
I'll see if I can run that down, I was just reading that... maybe it was the new Sun magazine article where they interviewed the economist.
About 50% of Americans don't pay federal taxes. The
top 25% of taxpayers cover more than 86% of the total taxbill.
Why not, they have the money.
http://sociology.ucsc.edu/whorulesamerica/power/wealth.html
In the United States, wealth is highly concentrated in a relatively few hands. As of 2007, the top 1% of households (the upper class) owned 34.6% of all privately held wealth, and the next 19% (the managerial, professional, and small business stratum) had 50.5%, which means that just 20% of the people owned a remarkable 85%, leaving only 15% of the wealth for the bottom 80% (wage and salary workers). In terms of financial wealth (total net worth minus the value of one's home), the top 1% of households had an even greater share: 42.7%. Table 1 and Figure 1 present further details drawn from the careful work of economist Edward N. Wolff at New York University (2009).
This second source gives slightly different numbers, but still carries the main message:
•The [richest 1% of Americans] now own more than the bottom 90% [of Americans].
•The top 10% [of Americans] own 71% of all private wealth.
•Over 86 percent of the value of all stocks and mutual funds, including pensions, was held by the top 10 percent of households. In 1998, the top 1 percent of Americans owned 47.7 percent of all stock.
•Bill Gates alone has as much wealth as the bottom 40% of U.S. households.
•In the 22 years between 1976 and 1998, the share of the nation's private wealth held by the top 1% nearly doubled, going from 22% to 38%.
•In 1982 the wealthiest 400 individuals in the "Forbes 400" owned $92 billion. By 2000 their wealth increased to over $1.2 trillion.
http://concentrationofwealth.blogspot.com/2004/03/facts-about-wealth-in-united-states.html
Here's another way to look at it:
The distribution of wealth is much more unequal than the distribution of income, especially when focussing on the bottom 60% of all households. The bottom 60% of households possess only 4% of the nation's wealth while it earns 26.8% of all income.
http://www.faculty.fairfield.edu/faculty/hodgson/Courses/so11/stratification/income&wealth.htm
Is it any wonder that the bottom 60% of the population with only 4% of the nations wealth doesn't pay much taxes? The site directly above has some graphs that show "graphically" (intended double entendre) how the wealth is distributed.
http://rawstory.com/08/news/2009/08/15/concentration-of-wealth-in-hands-of-rich/
According to Saez’s study, which Nobel prize-winning economist Paul Krugman drew attention to at his New York Times blog, the top 10 percent of earners in America now receive nearly 50 percent of all the income earned in the United States, a higher percentage than they did during the 1920s.
By comparison, during most of the 1970s the top 10 percent earned around 33 percent of all the income earned in the United States.
The contrast is even starker for the super-rich. The top 0.01 percent of earners in the US are now taking home six percent of all the income, higher than the 1920s peak of five percent, and a whopping six-fold increase since the start of the Reagan administration, when the top 0.01 percent earned one percent of all the income.
Saez also broke the numbers down by administration, and found that while the wealthiest few saw their incomes rise as quickly during the Bush years as they did during the Clinton years, the same was not true for the rest of the population. So this isn't just a Republican/Democrat or Liberal/Conservative thing.