Most American households are having a hard time getting through the end of the month, but a new hope from DOGE has given many people hope. But for many others, it has also caused trouble. This is about the DOGE stimulus check, which is a $5,000 stimulus pushed by Elon Musk’s Government Efficiency Department (DOGE). Of course.
How does DOGE get the money to write such large stimulus checks? Who will be able to get them, and how will they be given? We will tell you everything you need to know to get this DOGE payment, so you should be good.
What check are we talking about?
This is about the DOGE Stimulus Check, which will give away some of the savings that Musk’s organization has been able to make. We already know that DOGE was made to cut down on government spending because both Musk and President Trump thought the Social Security Administration was badly run and wasted too much public money.
This check comes into play based on the idea of giving 20% of the money saved by DOGE back to taxpayers in the form of rebate checks or dividends. It is clear that this is a very appealing idea for taxpayers, but there are still a lot of questions about it.
How much has DOGE saved these past months?
According to the data that DOGE has released, the changes they have made (like cutting jobs and getting back over payments to taxpayers) since Trump took office and returned to the Oval Office have saved the government $130 billion. That goal of $1 trillion has not been met yet. Musk will leave office at the end of May.
Where did the idea for this check come from?
The idea came from James Fishback, CEO of Azoria Partners. He suggested that taxpayers could get some of the money that DOGE collects back as a “reward.” Fishback thinks this might make people more likely to find and report wasteful government spending.
Also, this check would only come from the savings Musk has made through his federal plans. Unlike previous checks, this one would not come from deficit spending.
But what are the requirements for this stimulus check?
As was already said, this check is not like the Economic Impact Payments. This DOGE payment will not be given to everyone; it will be given to specific people. In this case, only households that pay federal taxes and are net positive taxpayers will be able to apply.
People whose adjusted gross incomes (AGI) are less than $40,000 would automatically not be eligible for this payment, which is a shame.
DOGE also stresses that the check will not be for a single person, but for the whole household. This is so that the collective tax contribution is rewarded instead of the contribution of a single person.
Detractors and supporters
It is clear that this news story is a bit controversial. A lot of well-known economists in the country have said it is not a good idea and that the money could be used for better things, like lowering the budget deficit.
Judge Glock, who is in charge of research at the Manhattan Institute, said that this payment will make the deficit bigger, cause people to spend more right away, and cause even more inflation than we already have.
A researcher at the Brookings Institution named Elaine Kamark said that Musk’s idea is silly because there is not enough money to give this to taxpayer users.
Will it cause inflation?
Fishback came up with the idea and says that these checks will not cause inflation because they come from DOGE’s savings and have nothing to do with the national debt.
When will it be delivered?
Congress has not yet agreed to it. It sounds like a great idea, but DOGE still needs to confirm a lot of things, like whether the base data is correct and whether the money will be given out as a rebate in the end or not. Stay tuned to find out if it goes through and if thousands of households get this extra money, which would be good for everyone!