2025-03-10
In a unique move, there's a plan on the table to give out $5,000 to tens of millions of families in the U.S. This plan, known as the DOGE Dividend, is aimed at putting more money in people's pockets.
The brains behind this idea is Elon Musk's team at the Department of Government Efficiency (DOGE) and James Fishback, the head of the investment firm Azoria.
Some folks are worried that giving out this much money could make prices go up, which is what happens when there's too much money chasing too few goods, a situation also known as inflation.
They remember that after the government sent out checks to help people during the pandemic in 2020 and 2021, prices started to climb.
However, Fishback says this time it's different. He spoke with Fox Business and explained that back in 2021, the economy was in a tough spot with problems getting goods, not enough workers, and lots of other issues making things chaotic.
Plus, the Federal Reserve was pumping a lot of money into the economy and interest rates were super low. But now, conditions have changed, so he doesn't see the DOGE Dividend causing inflation.
Fishback also mentioned that the DOGE Dividend would go to households that pay a lot of taxes and don't owe money to the tax office. He believes that 70% of the people who would get this money would use it to pay off debts accumulated during tough times in recent years.
Paying off debt, unlike spending on new stuff, actually helps prevent inflation, according to Fishback. He trusts that this move will actually help the economy by reducing debt rather than heating it up too much.
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A $5,000 Gift for Millions: Understanding the DOGE Dividend
In a unique move, there's a plan on the table to give out $5,000 to tens of millions of families in the U.S. This plan, known as the DOGE Dividend, is aimed at putting more money in people's pockets.
The brains behind this idea is Elon Musk's team at the Department of Government Efficiency (DOGE) and James Fishback, the head of the investment firm Azoria.
Some folks are worried that giving out this much money could make prices go up, which is what happens when there's too much money chasing too few goods, a situation also known as inflation.
They remember that after the government sent out checks to help people during the pandemic in 2020 and 2021, prices started to climb.
However, Fishback says this time it's different. He spoke with Fox Business and explained that back in 2021, the economy was in a tough spot with problems getting goods, not enough workers, and lots of other issues making things chaotic.
Plus, the Federal Reserve was pumping a lot of money into the economy and interest rates were super low. But now, conditions have changed, so he doesn't see the DOGE Dividend causing inflation.
Fishback also mentioned that the DOGE Dividend would go to households that pay a lot of taxes and don't owe money to the tax office. He believes that 70% of the people who would get this money would use it to pay off debts accumulated during tough times in recent years.
Paying off debt, unlike spending on new stuff, actually helps prevent inflation, according to Fishback. He trusts that this move will actually help the economy by reducing debt rather than heating it up too much.
-
Previous article: Financial Help in March 2025: What Money Might Be Coming Your Way?
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