Amidst the pandemic, stimulus checks were a crucial support for many Americans. Now, a potential additional round of payments could be on the horizon if Elon Musk and President Donald Trump make certain moves. Here is all you need to know about the proposed “DOGE dividend” payments.
Origin of the Idea: The concept of DOGE dividend payments originated from James Fishback, the CEO of Azoria, an American investment firm, not Elon Musk. Fishback suggested that with DOGE reportedly saving $1 billion daily, there is an opportunity for Trump and Congress to implement the “DOGE Dividend,” a tax refund funded by a portion of DOGE’s total savings. If DOGE saves $2 trillion, Fishback calculated that returning 20% to every U.S. taxpayer could result in a $5,000 payment per person.
Current Status: Following Musk’s positive response to Fishback’s proposal, Trump expressed serious consideration for distributing a DOGE dividend to Americans. He mentioned the possibility of giving 20% back to citizens and using another 20% to reduce debt at the FII Priority summit, but did not delve into specifics.
Expert Opinions: Despite the optimism surrounding the $5,000 payments, many experts doubt the feasibility of saving $2 trillion through DOGE. Economists like Jessica Reidl and Alex Nowrasteh highlight the challenges in achieving such savings without Congress’ involvement. Additionally, concerns have been raised about the potential inflationary impact of sending out DOGE dividends as a form of economic stimulus.
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Read the full article on GOBankingRates.com: Could You Be Getting a $5K DOGE Dividend Payment From Elon Musk?
