Staff Reports
Democratic presidential candidate Robert F. Kennedy Jr. has called out the Democratic Party for pushing forward “socialism for the rich” by supporting bank bailouts. During an interview with conservative host Tucker Carlson on Fox News, Kennedy criticized the corrupt merging of state and corporate power, which he claimed was turning the United States into a corporatist state. He argued that the current system provides a comfortable, cushy lifestyle for rich people, while making life difficult for the poor.
‘Socialism For The Rich’: Robert F. Kennedy Jr. Rips Democratic Party Over Bank Bailouts https://t.co/Bfnl4HLd9C
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Kennedy cited the Silicon Valley Bank bailout as an example, which was shut down by the Federal regulators in March, causing a bank run. Kennedy questioned why the US government would choose to give $300 million to a problematic bank while decreasing the welfare and food stamp checks of millions of people, and cutting down Medicare for 15 million others. He further pointed out that the US has spent $113 billion to fund the Ukraine war and given tanks and missiles to the country.
According to Kennedy, the inflation caused by printing money has raised the prices of essential foods like chicken, dairy, and milk by 76% over the past two years. He also criticized the government’s bizarre decision to cut down people’s food stamps while bailing out banks at the same time, saying that it doesn’t make any sense.
Kennedy, who filed his nomination on April 5, has made it his mission to end the dangerous partnership between the state and corporates which, he believes, is threatening to establish a new kind of corporate feudalism in the country. This kind of socialism for the rich will be detrimental to the poor, he argued.
The Democratic Party’s promotion of bank bailouts has been a point of contention for a long time, and Kennedy’s comments add fuel to the fire. If the US government keeps prioritizing the interests of the rich, then it’s only a matter of time before the country turns into a totalitarian state that benefits only the privileged few.
