Thom polynomials measure how global topology forces singularities. The power
of Thom polynomials predestine them to be a useful tool not only in
differential topology, but also in algebraic geometry (enumerative geometry,
moduli spaces) and algebraic combinatorics. The main obstacle of their
widespread application is that only a few, sporadic Thom polynomials have been
known explicitly. In this paper we develop a general method for calculating
Thom polynomials of contact singularities. Along the way, relations with the
equivariant geometry of (punctual, local) Hilbert schemes, and with iterated
residue identities are revealed