A couple months ago, James Fishback, an investment manager and advisor, proposed a “DOGE Dividend” in a tweet in February: “American taxpayers deserve a ‘DOGE Dividend’ – 20% of the money DOGE saves should be returned to working Americans as a tax refund stimulus check. It was his money, from the beginning! Elon Musk and Donald Trump later mentioned the idea.
The initiative seeks to return 20% of the savings generated by DOGE to net tax positive households. According to the Tax Foundation, the 50% of the lowest-income earners contribute only 3% of the total collected. Therefore, the plan would exclude those who receive more tax credits than they pay.
Who could access DOGE stimulus payments (and who could not)
The Pew Research Center indicates that taxpayers with incomes under $40,000 tend to get more tax benefits than their payments. This would leave them out of the DOGE dividend, turning it into a redistribution that mainly benefits the middle and upper strata. The proposal has generated debate about its social and economic impact.
Experts question whether the stimulus would worsen inflation, still high after the pandemic. Fishback argues that beneficiaries would save or pay off debt. However, Aaron Razon of CouponSnake warns: “I think the impact of inflation would be significant (…). Many would increase their spending, raising prices.
Others believe that DOGE dividends could affect Americans
Joseph Camberato, of National Business Capital, recalled the effects of the COVID-19 stimulus checks: “The impact would be minor, but it would provide additional liquidity (…), which drives prices up.” While Fishback insists on the saving potential, others see similarities with previous policies that overheated the economy.
Regarding viability, Camberato is skeptical: “I don’t see dividends from DOGE (…). We continue with a deficit.” In contrast, Thrivin Life’s Lucas Barcelo suggests that the Trump administration could prioritize popular measures to gain support. Uncertainty persists, as Congress has not formally debated the proposal.
Elon Musk leaves the government: Would the stimulus checks remain?
The Musk-led Department of Government Efficiency (DOGE) aimed to save $2 trillion through cuts. However, its validity ends in July 2026, and its scope is considered limited. Fishback proposed redistributing those savings, but Musk recently signaled that his focus will return to his companies.
Musk clarified: “It is up to Congress and the president to decide (…). Reducing unnecessary spending will benefit the economy (…). The inflation tax is reduced. His statements suggest that the DOGE dividend is not a priority. Experts like Razon warn about false expectations: They can give a false sense of security.”
Although the idea gained media attention, its implementation faces legal and budgetary obstacles. With Musk moving away from DOGE and no legislative progress, analysts recommend not counting on these funds. The priority, according to Razon, continues to be personal savings and debt reduction, regardless of speculative policies.
