Pro-Bitcoin U.S. Presidential Candidate Warns: Financial System Designed to Favor the Rich and Strip the Middle Class of Their Assets and Equity

• The current financial system ‘is brutal, savage, merciless capitalism for the poor.’
• Kennedy Jr promises to introduce tax exemptions once he is president.

US Democratic presidential candidate Robert F. Kennedy Jr. said the current financial system allows the rich to withdraw assets and equity from the middle class. “It is brutal, savage, merciless capitalism for the poor.”

JUST IN: 🇺🇸 Presidential candidate Robert F. Kennedy Jr. says the financial system is designed for the rich to strip the middle class of their assets and equity. pic.twitter.com/BKLWMyyaM1

— Watcher.Guru (@WatcherGuru) July 26, 2023

In an exclusive interview with Fox News Town Hall on Tuesday, the pro-Bitcoin presidential candidate said the lockdown during the COVID-19 pandemic was the ‘final straw.’

“We moved $4 trillion dollars from the American middle class to the super-rich.”

Robert F. Kennedy Jr. called out several ‘bad decisions’ made under President Joe Biden in the White House. The presidential candidate said President Biden has never been good with words but did not directly comment on the president’s mental, physical, or cognitive ability to govern the nation. 

Kennedy Jr. noted that he had avoided “personal attacks on people,” while campaigning and asserted that, 

“I will say, whether he’s up to it or not, whether he’s making his own decisions – the decisions that are coming out of the White House are bad decisions.”

Besides criticizing the current reign, Kennedy Jr. has been a vocal crypto supporter throughout his campaign. During the Heal-the-Divide PAC event, the presidential candidate announced that he would back the US dollar with Bitcoin if he won the general elections. 

Kennedy believes that incorporating hard assets such as Bitcoin will benefit the economy. He also proposed a gradual approach by backing 1% of all issued treasury bills using assets such as gold, Bitcoin, silver, or platinum. 

Kennedy vowed to support crypto in his presidential agenda by introducing tax exemptions. From his plan, any conversion of BTC to the US dollar will not suffer capital gains taxes. His presidential agenda incentivizes investors to retain their investment-related venture in the US instead of relocating to other crypto-friendly countries.

At the Bitcoin 2023 conference in Miami, Kennedy discussed the connection between Bitcoin, freedom, and democracy, emphasizing crypto’s durability, strength, and adaptability. He also expressed his acceptance of Bitcoin donations for this campaign.

Kennedy is moving to appeal to the crypto community and presenting his pro-Bitcoin regulation strategies to engage the community further. 

On May 3, Kennedy criticized the US government’s anti-crypto stand on Twitter. The presidential candidate tweeted that Bitcoin and digital assets are  “major innovation engines,” the government stances could hinder the industry’s potential growth and drive the industry to innovate in other countries.

Cryptocurrencies, led by bitcoin, along with other crypto technologies are a major innovation engine. It is a mistake for the U.S. government to hobble the industry and drive innovation elsewhere. Biden’s proposed 30% tax on cryptocurrency mining is a bad idea. 🧵

— Robert F. Kennedy Jr (@RobertKennedyJr) May 3, 2023

Furthermore, Kennedy addressed the recently suggested 30% tax on crypto mining on the grounds of intensive power consumption. While he knows of the energy-related issues connected to Bitcoin mining, Kennedy argues that the concerns might be exaggerated. 

Kennedy argued that it is unfounded to limit the crypto industry solely based on energy consumption, saying that “Bitcoin mining uses about the same as video games.” he noted that the real motivation behind crippling the crypto industry is because it “threatens elite power structures.” 

The presidential candidate also defended criminal use accusations against Bitcoin and cryptocurrencies. Although he acknowledged the possibility of these digital assets being used for illegal activities, he argued that ordinary citizens also value and benefit from the privacy offered by blockchain transactions. 

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