What Will Elon Musk Do With the Money DOGE Saves? Tesla CEO Reveals Answer

Tesla CEO Reveals Answer: Elon Musk was asked by an X user to share the money saved by the Department of Government Efficiency (DOGE) amongst all tax-paying Americans. The user suggested that this money could see Musk distributing $5000 (₹4.3 lakh) to each household. The Tesla CEO replied saying, "I will check with the president."

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Entrepreneur James Fishback claims DOGE actually saves $1 billion a day. The department was set up shortly after U.S. President Donald Trump was sworn in in January this year. Musk heads the department, which he claims he doesn't get paid for, entirely built for cutting government expenditure.

DOGE's targets until now include the national foreign aid apparatus USAID and the education department, among other government divisions.

Fishback proposed that the "DOGE Dividend" be paid to taxpaying households across the US.

Fishback considered only 20% of $2 trillion in proposed savings targeted by the department against which to work his calculations; that makes $400 billion. He suggested giving the $400 billion as a tax refund cheque for nearly 79 million US households that would be net payers of federal income tax in calendar year 2025.

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This would mean $5,000 goes into each taxpayer household across the nation.

Benefits of the DOGE Dividend were also put forth by Fishback. He called it a compensation for "egregious misuse and abuse of their hard-earned tax dollars that DOGE has uncovered."

It would give a whistleblower incentive to citizens when reporting about waste, fraud, and abuse to DOGE, which would add to the amount in savings generated by DOGE and also increase the dividend payment. This will enhance the trust relationship between the taxpayers and the government, he said.

On the contrary, it may also incentivize eligible Americans to enter the workforce. As per Fishback's citing of a Bank report by the Philadelphia Fed, 7 million working-age men in America neither work nor look for jobs. The dividend will act as an incentive for the non-working Americans to come back to work.

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