US Presidential Candidate Pledges Dollar Backing With Bitcoin, No Bitcoin Capital Gains Tax

In a recent press release earlier today by the Heal-the-Divide PAC, as reported by TheStreet, 2024 U.S. presidential candidate Robert F. Kennedy Jr. (aka “RFK Jr.”) unveiled a series of policy initiatives that could significantly reshape the Bitcoin landscape and bolster its position in the financial marketplace.

The Heal the Divide Super PAC was launched in early 2023 to support Democratic 2024 presidential candidate Robert F. Kennedy Jr.Their website states:

“Only Robert F. Kennedy, Jr. can unite the Nation to start healing America. And Heal The Divide, Inc’s mission is to heal America by ensuring that Robert F. Kennedy, Jr. is the next President of the United States of America.“

Robert Francis Kennedy Jr., born on January 17, 1954, is an American environmental lawyer, author, member of the Kennedy family, 2024 Democratic Party presidential candidate, and a controversial figure known for promoting anti-vaccine propaganda and health-related conspiracy theories. Kennedy is the son of former U.S. Attorney General Robert F. Kennedy and nephew of President John F. Kennedy.

Kennedy has had an extensive career in environmental law and advocacy, working with organizations like Riverkeeper, the Natural Resources Defense Council (NRDC), and Waterkeeper Alliance. Despite his success in the environmental field, Kennedy’s controversial statements and past issues have made it challenging for him to obtain prominent political positions.

On May 5, 2023, over a series of tweets, he expressed his concerns about the potential impact of central bank digital currencies (CBDCs) on individual freedom, democracy, and financial privacy.

Kennedy’s opposition to CBDCs stems from his belief that they could be used to control people’s financial lives, particularly in terms of political dissent. He cited examples of private companies like PayPal, Visa, and Mastercard taking action against individuals or organizations due to political pressure or fear of regulatory backlash.

As a staunch defender of democracy and individual rights, Kennedy sees the potential for CBDCs to be misused by governments as a tool to suppress dissent and control economic life. The digitization of currency and the rise of CBDCs would grant governments unprecedented powers to monitor and control financial transactions, ultimately suffocating dissent and undermining democracy.

Conversely, Kennedy strongly supports Bitcoin, as it provides a decentralized alternative to traditional financial systems and allows people to conduct transactions without government interference. He views Bitcoin as a vital tool for supporting people’s movements worldwide, particularly in countries like Burma, where political unrest is prevalent.

Kennedy proposes to strengthen the US Dollar by backing U.S. Treasury bills, notes, and bonds with a combination of hard assets, including Bitcoin and precious metals. This strategy, he says, could restore the dollar’s dominance in the financial marketplace while solidifying Bitcoin’s sustainability. Kennedy believes this approach could help rein inflation and usher in a new era of American financial stability, peace, and prosperity.

The second major proposal announced by Kennedy is a tax incentive for Bitcoin holders. Specifically, he proposes that when Bitcoin holders exchange Bitcoin for the dollar, it will be a tax-free event. This policy aims not only to help retain high-tech investment and jobs in America but also to restore financial privacy for all Americans, as Bitcoin transactions would no longer be a tax reporting event to the IRS. Kennedy’s vision aligns with tax incentives provided by countries like Germany, Portugal, Singapore, and Hong Kong.

In addition to these groundbreaking initiatives, Kennedy has proposed several other Bitcoin policies. These include ensuring the right to Bitcoin self-custody and the right to run nodes in one’s home. Kennedy also proposes adopting a policy of industry-neutral regulation of energy to promote energy abundance for crypto operations. Furthermore, he aims to clarify and enforce “sensible jurisdiction and governance,” recognizing that Bitcoin is not a security and should not be regulated as one.

The press release argues that these policy positions demonstrate Kennedy’s commitment to Bitcoin and its potential to transform the financial landscape. His vision for Bitcoin’s integration with the U.S. Department of the Treasury and his commitment to tax reforms were met with a celebratory response at FreedomFest, marking him as the Bitcoin presidential candidate.

Heal-the-Divide, the pro-RFK Jr. Super PAC that launched at Freedom Fest, states its alignment with Kennedy’s commitment to reclaim the common moral values that can unite the nation, as per the press release. The PAC expresses its belief in protecting freedom of expression and terminating the corruption and control of our political leaders and media industry by Big Pharma, Big Tech, Big Banks, and the Military Industrial Complex.

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