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Yes, taxes collected by govt effectively go into a single pool. The money is not ringfenced for particular purposes. Both in the UK (where I'm from) and in the
by rahimnathwani 5y ago
Yes, taxes collected by govt effectively go into a single pool. The money is not ringfenced for particular purposes.
Both in the UK (where I'm from) and in the US (where I live now), there are separate taxes ('social security' in the US, 'national insurance' in the UK), but the AFAICT this is just a trick to obscure the true rate of payroll/income taxes.