Big paydays for taxpayers: Will Americans get $5K checks soon?

A groundbreaking proposal called the “DOGE dividend” could soon become law. The plan promises to distribute 20% of government savings directly to taxpayers. Support is growing, with President Trump and Elon Musk backing the idea. And now, the bill could be introduced in the coming days.

Who’s behind the idea?

James Fishback, a 28-year-old hedge fund manager, is the genius behind the proposal. Last week, he met with Elon Musk to discuss the plan. Just this week, he’s started meeting with lawmakers to push it forward.

“The president supports this, and Elon is all in,” Fishback told The Post. “They like the idea of encouraging people to report government waste.” The proposal is gaining momentum, and Fishback is confident the bill will soon be presented.

What’s in the proposal?

Fishback’s plan would give 20% of the government’s savings to households that are net taxpayers. These are people who pay more in taxes than they receive in benefits. If Musk succeeds in trimming $2 trillion from the federal budget, this could mean big checks for 79 million households.

Each of these households could get a $5,000 check. The remaining 20% of the savings would go toward paying down the national debt, and the other 60% would likely be allocated to the government’s annual budget. Fishback’s math is simple but bold.

Will Americans see checks soon?

The first DOGE dividend checks could be sent as early as 2026, once DOGE ends. However, if the bill becomes law before then, Americans could see checks much sooner. Fishback hopes the law will be in place within the next few days.

The idea first caught attention when Fishback shared it on X. Elon Musk quickly tweeted his support, further fueling the proposal’s momentum. Then, Trump spoke out, praising the plan in a speech last week.

The controversy: Will it cause inflation?

Some economists are skeptical about the proposal. They warn that sending out large checks could fuel inflation, much like the stimulus checks during the pandemic. But Fishback isn’t worried. He believes his targeted approach won’t have that effect.

“Sending checks isn’t inflationary,” Fishback explained. “The inflation we saw during Covid was a result of lockdowns and labor shortages. The current economic climate is disinflationary.”

He compares the DOGE dividend to tax refund season. When Americans receive their refunds, they typically save or pay down debt, not spend wildly. Fishback believes the same will happen with these checks.

The incentive to work

The DOGE dividend checks would be sent only to households that pay taxes. This, Fishback argues, would incentivize people to get back to work. Unlike the Covid stimulus checks, which many used as a crutch, the DOGE dividend would reward those who contribute to the economy.

There’s another upside to the DOGE dividend: It could boost the stock market. Just like the pandemic stimulus checks helped drive stocks to new heights, the DOGE dividend could have a similar effect.

Fishback believes that the checks would encourage spending and investing, potentially pushing stocks higher.

Fishback’s bigger plans

Although Fishback has made his mark in the world of finance, he’s also known for his new anti-woke fund, Azoria. This latest initiative comes as he works to build his MAGA credentials.

Fishback made headlines in 2023 when he left Greenlight Capital, a hedge fund led by billionaire David Einhorn. This departure sparked a legal battle over his title at the firm and his non-compete clause. But now, Fishback is focusing on his new ventures, including the DOGE dividend.

A game-changer?

The DOGE dividend could be a game-changer for the American economy. With support from high-profile figures like Trump and Musk, it has the potential to become law soon. The idea has already created buzz, and many are eager to see how it plays out.

Fishback’s proposal is bold, but it’s one that could have a lasting impact on taxpayers and the national budget. Will the bill pass? Only time will tell, but the countdown is already on.