American people are very excited about the possible DOGE dividend check. The plan calls for refunds of up to $5,000, which would be paid for by savings found by Elon Musk’s Department of Government Efficiency (DOGE). This is what we know so far about how it might be officially confirmed or put into action on a certain date.
Jim Fishback, CEO of Azoria, has been pushing for these stimulus checks since February. In a recent interview with Chris Cuomo, he said, “Yes, I really think it will happen,” citing talks he had with members of Congress. Fishback said that Donald Trump, Elon Musk, and economist Kevin Hassett all agreed with him.
Where would the DOGE money come from?
Proposal for a “DOGE dividend” calls for giving 20% of the savings made by DOGE to taxpayers. This would mean a one-time payment of about $5,000 per household. The government debt would be paid down with the other 80%. The plan does need to be approved by Congress, though, and many experts aren’t sure if it will work and if it will cause inflation.
According to DOGE, the federal government has saved a total of $155 billion, which is about $1,000 for every worker. But this plan still needs to be approved by Congress. Musk warned during a trip to Wisconsin that the refunds would only happen if the government cut costs and worked more efficiently.
Through cuts, Musk told FOX News on March 27 that DOGE wants to get rid of a $1 trillion debt. Fishback suggested giving 20% of the savings as rebates, but not to low-income families. He said that this would not cause inflation like flu checks do.
Trump recently said that he was going to look into the “DOGE dividend,” but he didn’t say anything else. Fishback made it clear that the people who would benefit would be net contributors, not people who would receive help. According to the Pew Research Center, 40% of Americans do not pay federal taxes. This makes the issue less important.
Checks would be sent to each home, not to each person. They would include people who get Social Security and pay their taxes. But the plan is still just an idea; there isn’t a set schedule or set of mechanisms for it to work.
What Makes Dividends, Refunds, and Stimulus Checks Different?
A dividend is when a company gives its shareholders a portion of its income. A refund, on the other hand, is when you get back money that you already paid, like taxes. On the other hand, stimulus checks are direct payments from the government to people that are meant to get them to spend more and help the economy.
In the present situation, James Fishback, founder of Azoria and supporter of the “DOGE dividend,” says that this would not cause inflation because it would be paid for by the government’s real savings, not by borrowing money or printing money.
What is going on with the DOGE Department right now?
The Trump administration set up the Department of Government Efficiency (DOGE) in 2020 to make better use of technology and cut down on government spending. Elon Musk was appointed to lead this initiative, which originally aimed to generate savings of up to $2 trillion annually.
Later, though, this goal was seen as “unrealistic,” and the estimates were changed to first $1 trillion and then $150 billion. According to DOGE, they have saved a total of $155 billion so far, which is about $1,000 for every worker.