What's Everyone Planning on Doing With Their DOGE Dividend?!
- Thread starter Here_4_a_Day
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Tech billionaire Elon Musk said Tuesday he would pitch President Donald Trump on an idea to send Americans a “dividend” based on the savings he expects the U.S. DOGE Service to achieve, but even conservative budget experts are extremely skeptical that the plan could work in practice.
In a post on X, Musk said he would “check with the president” about a proposal floated by James Fishback, CEO of the investment firm Azoria, to give 20 percent of DOGE’s savings to the public. Under the plan, taxpayers would receive direct payments — “DOGE dividend” checks — funded by the savings generated by DOGE.
“Our proposal for the president is simple: taxpaying households should receive $1 for every $5 of total savings that DOGE delivers,” Fishback said.
Fishback said the plan could deliver roughly $5,000 per household for the roughly 79 million households in which residents pay federal income tax. That number is based on Musk’s goal of cutting $2 trillion from the federal budget, meaning the government would distribute $400 billion — 20 percent of the savings — back to taxpayers.
Budget experts have been very skeptical of the claim that DOGE will save anywhere near that amount. Meaningfully reducing budget deficits almost certainly will require some combination of major tax increases and cuts to the most expensive government programs — Medicare, Medicaid and Social Security — and the Defense Department. Washington has long been leery of touching those programs, and Trump has promised to protect them.
In a post on X, Musk said he would “check with the president” about a proposal floated by James Fishback, CEO of the investment firm Azoria, to give 20 percent of DOGE’s savings to the public. Under the plan, taxpayers would receive direct payments — “DOGE dividend” checks — funded by the savings generated by DOGE.
“Our proposal for the president is simple: taxpaying households should receive $1 for every $5 of total savings that DOGE delivers,” Fishback said.
Fishback said the plan could deliver roughly $5,000 per household for the roughly 79 million households in which residents pay federal income tax. That number is based on Musk’s goal of cutting $2 trillion from the federal budget, meaning the government would distribute $400 billion — 20 percent of the savings — back to taxpayers.
Budget experts have been very skeptical of the claim that DOGE will save anywhere near that amount. Meaningfully reducing budget deficits almost certainly will require some combination of major tax increases and cuts to the most expensive government programs — Medicare, Medicaid and Social Security — and the Defense Department. Washington has long been leery of touching those programs, and Trump has promised to protect them.
Let the obstruction from the party of waste begin!
This would contribute to inflation, just like the covid checks did.
Can't even be excited about getting $5k, huh?
A) Well, there's the math problem. Figuring 250m adults in America, that'd be 1.25 trillion.
B) And if you did cut that, what about about the focus on the budget? (although I suppose you could make it a one time thing)
When the government distributes money directly to people—whether through stimulus checks or something like the so-called "Doge dividend"—it increases the amount of money in circulation. If this new money isn’t matched by an increase in the supply of goods and services, it can drive up demand, leading to higher prices, which is inflation.
Imagine a small town where everyone suddenly gets an extra $1,000. If the number of goods and services in the town stays the same, but now more people have extra cash to spend, businesses may raise prices because demand is higher. That’s inflation—too much money chasing too few goods.
If everyone gets more money but stores don’t have more products to sell, prices naturally go up.
But the thing is, this wouldn’t have to happen. It’s just that businesses decide instead of making more product and making money that way. They decide to raise the price because they can and no one stops them.
Too bad instead of a $5,000 check to everyone, they don’t just pay off $5000 of a student, home or auto loan. If you don’t have one of those, then you get a check.
This wouldn’t eliminate people wasting the $5000 and most likely causing the inflation you described.
A lot of people did pay down debt with their covid stimulus checks. But, that doesn't stimulate the economy.
How about paying down our national debt with it?
Sure. If you can promise that will help me more than having $5000 of my house paid down I’m all for it. It would be great if it would also lower the cost of items.
Deflation would be a nice change for once.
Might be....except the great majority of us did NOT get a Covid check....
You sure?
How much was paid in each of the three rounds?
Round 1, March 2020: $1,200 per income tax filer, $500 per child (CARES Act)Round 2, December 2020: $600 per income tax filer, $600 per child (Consolidated Appropriations Act, 2021)
Round 3, March 2021: $1,400 per income tax filer, $1,400 per child (American Rescue Plan Act)
Not true.
Approximately 85-90% of American households received at least one COVID-19 stimulus check.
Here’s a breakdown of the three rounds of Economic Impact Payments (EIPs) issued by the U.S. government:
- First Round (March 2020 - CARES Act): ~85% of households received payments.
- Second Round (December 2020 - COVID-19 Relief Package): ~88% of eligible individuals received payments.
- Third Round (March 2021 - American Rescue Plan): ~91% of eligible individuals received payments.
But you have been down for the spending $BaTrillions on ILLEGALS and everything related! lol So we have you down for sending your DOGE dividend back to the treasury endorsed with: "For Deposit Only!" Perfect! In fact, I would think any democrat with a bit of conscience would do the same!!!!!
So, we're not actually 'saving' money from Doge? It's going to be given away?
Well, then we should stop hearing about savings, because apparently President Elon is just going to 'spend' it anyway.
Well, then we should stop hearing about savings, because apparently President Elon is just going to 'spend' it anyway.
hawkeyetraveler
HB Heisman
Any stimulus contributes to inflation. This is an asinine idea that will only make things more expensive.
Always with the hysteria when the facts can't be fathomed. 20% of the savings/recovery goes back to those who were fleeced AKA the American taxpayers. The other 80% goes toward retiring debt. Make sense or you need stick people?
Crazy, when the Dems printed trillions to throw into the economy (even when everyone knew the outcome would be massive inflation), the claimed inflation was transitory. LOL!!
No Pinehawk, this is totally different! MAGA$$$ is never inflationary.
Why would using money to pay off debt and not spending it foolishly on unnecessary items make things more expensive?
PXG has new (more expensive) golf clubs coming out…it worked for me 4 years ago…
Eggs are still pretty expensive…that should take care of my $5k…and gas hasn’t come down yet, either.
Eggs are still pretty expensive…that should take care of my $5k…and gas hasn’t come down yet, either.
hawkeyetraveler
HB Heisman
In your specific case…nah it’s not going to do much to inflation obviously. If every household receives $5K? It will supercharge inflation. Are you under the impression that Trumps 2 handouts and Biden’s 1 handout didn’t contribute to inflation last time?
This is the dumbest of dumb ideas ever. We should use any savings found to pay down the national debt before giving kickbacks to citizens.
Just all part of a grift. Give Americans a one time sum of money(not very much), and the turn around and give themselves millions long term in massive tax cuts for ultra wealthy. Then find away to blame Biden for the exploded debt. Wake up you MAGA suckers!
Not at all under that impression. But greed of big businesses are by far more responsible.
It is pretty dumb but people will see it as Trump giving them money and they’ll be stoked. And then of course the cost of goods will go up again causing more struggles for lower income individuals.
It isn’t “greed of big businesses” it is the innate greed of capitalism itself. Capitalism is not finished until there is but ONE person left with all the money.
In order for capitalism to work efficiently and effectively in a market system such as ours, capitalism must be heavily regulated and monitored by government agencies. That right there is an oxymoron to the very nature of capitalism but it is a fact. Entrepreneurs and corporations cannot be in control of the economic system if it is to serve its people.
One Pro V 1 costs more than a dozen eggs. I'd recommend Kirklands , although it's pretty hard to lose a golf ball in the desert...PXG has new (more expensive) golf clubs coming out…it worked for me 4 years ago…
Eggs are still pretty expensive…that should take care of my $5k…and gas hasn’t come down yet, either.
If DOGE is finding all these “savings”, why do the dipshit Republicans want to raise the debt ceiling by $4T?
Hey...laugh all you want. But this will definitely relieve the financial pressure from all those 130-somethings living Social Security check to Social Security check. 😎
I never get any of the checks you poors do. Or anything with a phase out. Sucks being loaded.
Well, not really.
