1 year ago
Presidential campaigner Robert F. Kennedy Jr. revealed plans to backmost the U.S. Dollar with Bitcoin (BTC) and exempt the flagship integer plus from superior gains taxation portion speaking astatine a July 18 Heal-the-Divide PAC event.
“My program would beryllium to commencement very, precise small, possibly 1% of issued T-bills would beryllium backed by hard currency, by gold, metallic platinum oregon bitcoin.”
Kennedy pointed retired that the argumentation would substantially solidify the U.S. Dollar‘s presumption arsenic the world’s reserve currency, adding that:
“Backing dollars and U.S. indebtedness obligations with hard assets could assistance reconstruct spot backmost to the dollar, rein successful ostentation and usher successful a caller epoch of American fiscal stability, bid and prosperity.”
No superior summation taxes for BTC
The pro-BTC statesmanlike hopeful further stated that his authorities would exempt the integer plus from superior summation taxes. Kennedy said this enactment would greatly payment innovations, spur investments and guarantee citizens’ privacy.
Kennedy continued that the argumentation would incentivize ventures to turn their businesses successful the state alternatively of moving offshore to places similar Singapore, Switzerland, Germany, and Portugal. He explained that:
“Non-taxable events are unreportable and that means it volition beryllium much hard for governments to weaponize currency against escaped speech, which arsenic galore of you know, is 1 of my main objectives.”
Other Pro-BTC proclamations
The statesmanlike campaigner besides reiterated immoderate of his aged pro-BTC statements, noting however President Biden’s existent medication has punished banks dealing with Bitcoin done Choke Point 2.0.
Earlier successful the year, respective U.S. crypto-friendly banks collapsed rapidly arsenic the authorities tightened the noose astir the industry.
Kennedy further commented connected the regulatory outlook for the crypto industry, saying:
“Bitcoin is not a information and should not beryllium regulated arsenic one.”
Lampoons fiat currencies
Meanwhile, RFK Jr criticized fiat currencies, saying they were invented to money wars. He revealed his penchant for basal currencies due to the fact that they marque it much hard for the authorities to “just people wealth to money the warfare and taxation the nationalist done the hidden taxation of inflation.”
Since Kennedy began his run for office, helium has consistently advocated against the weaponization of currencies and condemned central slope integer currencies (CBDCs).
The station Presidential campaigner RFK Jr. proposes backing US dollar with Bitcoin appeared archetypal connected CryptoSlate.
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