The proposal for a “DOGE dividend,” which aims to distribute 20% of government savings back to taxpayers, has received backing from President Trump and Elon Musk. It may soon be solidified into law, as reported by The Post.
James Fishback, a 28-year-old hedge fund manager behind this initiative, shared with The Post that he met with Elon Musk last week and has begun discussions with lawmakers regarding his proposal earlier this week.
“The president is on board, and Elon appreciates the concept of encouraging individuals to report waste, fraud, and abuse,” Fishback remarked. “The proposed legislation is expected to be introduced in the coming days.”
He further explained, “This strategy will generate even greater savings for taxpayers — it will enhance the returns that DOGE is generating.”
According to Fishback’s plan, households that contribute more to the government than they receive in benefits, classified as net taxpayers, would be eligible for 20% of all DOGE savings.
An additional 20% would be allocated to reducing the national debt, while the remaining 60% will likely be assigned to the annual budget, although Fishback did not specify this.
Based on his calculations, around 79 million households could receive a $5,000 check each, assuming Musk successfully reduces $2 trillion from the federal budget as he estimates.
Fishback previously mentioned that the first checks would be issued when DOGE concludes in July 2026; however, if it passes into law sooner, he stated that Americans might see a check before that date.
The concept gained momentum after Fishback initially shared it on X.
Elon Musk subsequently “quote tweeted” the proposal, expressing his support, while Trump lauded the idea during a speech last week.
Although some economists warn that this potential dividend could lead to increased inflation, similar to the impact from pandemic stimulus checks, Fishback is confident that his targeted distribution method will mitigate that concern.
“Distributing checks isn’t inflationary… The lockdowns and workforce shortages exacerbated inflation during Covid,” he stated. “However, the current macroeconomic conditions are disinflationary.”
“This is akin to tax refund season — when the average IRS refund is $3,100 and typically goes towards emergency savings, paying off debts, or saving,” he noted.
Moreover, since DOGE payments would only be issued to households that are net taxpayers, these checks would encourage individuals to return to work, unlike pandemic-related stimulus checks.
One positive effect of the stimulus checks was a rally in the stock market. Similarly, DOGE dividend payments might also catalyze stock market growth.
While Fishback informed The Post that he has no ambitions beyond his newly established anti-woke fund Azoria, this new undertaking aligns with his efforts to enhance his MAGA credentials.
He initially attracted attention on Wall Street after departing Greenlight Capital in August 2023, following a period spent at billionaire David Einhorn’s hedge fund, which results in an ongoing legal dispute regarding Fishback’s title at the firm and non-compete agreement, among other issues.
