Quote ="Scooter Nik"Why is it laughably called our taxed income?
It's our income, and it's taxed, so surely 'Our accurately named taxed income' would be more accurate.
...'"
Well, as I obviously need to spell it out, it would be (especially if you want to use it to buy fuel) much more accurately described as "our already partially taxed but which is about to be taxed a shedload more" income.
You may say there's a distinction between the tax already paid on earnings, and the further tax paid when the net is spent on fuel, and as a matter of semantics of course there is, but in real life if the fuel purchaser earned (say) £200 gross and £150 ends up straight back in the Treasury, the fact he kept a bit of the tax in his pocket for seven minutes on his way home till he filled his motor up is not really of much financial help to him.
It's not just that, though, since governments have gone out of their way to impose hundreds of stealth taxes all over the place, in addition to the biggies on fuel, fags, booze, and continue to do so. Including tax on tax. And the not-so-stealth tax, council tax.
In reality, the tax you pay on your income is not the whole truth. It is little more than a weak starting point for "negotiations", where you have a bit of choice to a limited point, but no bargaining power.
If you wanted to call it "preliminarily taxed income" then I'd go along with that, but it is just the first instalment.