Jonathan Herzog is running for the U.S. Congress in New York’s 10th District, and he has the support of the crypto community to beat out the nearly 30-year-old Jerrold Nadler in the Democratic primary.
Herzog received a bachelor’s degree from Harvard, an MBA from NYU Stern, and is currently studying at Harvard Law School. He was also a founding member of Andrew Yang’s presidential campaign, from whom he no doubt took some ideas. He is running a progressive campaign: one that calls for Universal Basic Income (UBI), universal health care, publicly funded elections, and national regulation of cryptomonies.
Crypto-currency enthusiast Jonathan Herzog is running for the US Congress.
Crypto national regulation similar to Wyoming
Herzog believes that the state of Wyoming set a great precedent and that America’s national crypto regulation should follow suit if the country is not to be left behind by other nations. He also believes that New York’s Bitcoin Loophole is detrimental to the development of cryptographic space in the state.
The odds seem to be against Andrew Yang’s young disciple. However, Herzog told Cointelegraph that he believes he has a realistic chance and depends on the support of the city’s resonant crypto community:
„I’m here to fight for the future that we’re building together, a decentralized, open source future. Bitcoin, Ethereum and Blockchain (decentralized) are an integral part of that.
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UBI – $3.5 billion
Herzog’s UBI proposal promises a monthly payment of $1,000 to each adult and $500 to each child and, according to U.S. Census Bureau data, would cost approximately $3.5 billion per year.
Herzog says that about $1 billion can be recovered by instituting a value-added tax, which would tax technology giants like Amazon, which currently pay almost no federal taxes. In addition, the UBI paid to individuals would stimulate the economy and perhaps pay for itself.
He says the government has demonstrated its powerlessness in managing COVID-19 and has praised the crypto community for seeing it in the first place:
„Unfortunately, this only illustrated the institutional collapse that the crypto community has been talking about for over a decade. But it is really coming to light at this time of crisis, at the height of the crisis“.
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Congress in recess during the „Great Depression“
Herzog added that this institutional crisis is what motivates him in his search, since the current congressmen have proven to be inactive:
„But in reality, this is why I’m running, because there’s no one acting. In the midst of this pandemic, this „Great Depression,“ one could say, it has already killed more than twice as many people who died in the Vietnam War. We cannot trust that there are veterans in the room of Congress because, once again, they have gone into recess. And when they finally came back into session, they passed a multi-million dollar bailout for the big multinational corporations and a tiny, tiny fraction, very tiny fraction of that to save the people.