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Re:Britain should scrap its online safety bill by bojangleslover on Sunday May 29, 2022 @06:14AM (#31547968)
Everything is financed by labor anyway. Capital gains tax represent less than 10% of tax revenue.

Income and national insurance (also income, not sure why it has a different name) has always made the lion's share.

https://www.gov.uk/government/publications/budget-2020-docum...

Re:Britain should scrap its online safety bill by pjc50 on Sunday May 29, 2022 @07:22AM (#31548241)
National Insurance was introduced as a social security scheme, and still has a few links despite going into the general revenue pot. https://www.which.co.uk/money/pensions-and-retirement/state-...

It serves the same role as the US social security scheme with a different accounting treatment.

Re:Britain should scrap its online safety bill by bojangleslover on Sunday May 29, 2022 @07:37AM (#31548298)
Call it what you want, it's income tax
Re:Britain should scrap its online safety bill by youngtaff on Sunday May 29, 2022 @08:18AM (#31548539)
Worse that that it’s a tax on earned income i.e. people working, so landlords etc don’t pay it on their unearned income i.e. rents
Re:Britain should scrap its online safety bill by callamdelaney on Sunday May 29, 2022 @08:44AM (#31548695)
No, they definitely pay income tax on rent. HMRC deducts any rental income from your tax free allowance on income ahead of time in fact.
Re:Britain should scrap its online safety bill by biorach on Sunday May 29, 2022 @09:26AM (#31548959)
They were referring to National Insurance, not Income Tax
Re:Britain should scrap its online safety bill by pjc50 on Sunday May 29, 2022 @07:46AM (#31548356)
Apart from applying in a different range of circumstances and being capped, yes it's linked to income.

(Does raise the question of whether student loan repayments, which are also linked to income unlike other loans, and have been called a "graduate tax" by some of their advocates, are also an income tax that applies only to people born after a particular date ...)

Re:Britain should scrap its online safety bill by hkt on Sunday May 29, 2022 @08:16AM (#31548528)
They're only an income tax if you can't pay them off. Call it a tax on the poor and normal, while as ever the wealthier cohorts get a nice break. This is why there should have been an actual graduate tax.

That and the fact that a graduate tax would at least have been predictable, unlike, say, the soaring interest rates on student debt at the moment.

Re:Britain should scrap its online safety bill by dazc on Sunday May 29, 2022 @09:53AM (#31549130)
No it doesn't, it is just another income tax.