Latest news with #Fishback
Politico
12 hours ago
- Business
- Politico
A DOGE architect leaves the movement after Musk feuds with Trump
James Fishback, the chief architect behind the proposal to send 'DOGE checks,' told POLITICO Friday he's stepping away from the movement after Elon Musk lashed out at President Donald Trump. 'The truth is that Elon set expectations that he relayed to the president, me, and the country that he did not come close to fulfilling. That's disappointing, but okay,' Fishback said. 'What's not okay is his baseless personal attacks against President Trump.' Fishback, the founder of a self-styled 'free thinking' investment firm, gained prominence in conservative circles when he proposed the idea of distributing $5,000 stimulus payments to American taxpayers, funded by a share of DOGE's projected government savings. Though Fishback never formally joined DOGE, his 'DOGE checks' generated support from Musk on X and prompted Trump to express interest in a 'DOGE dividend.' Fishback launched his anti-woke investment fund at Trump's Mar-a-Lago resort in December.
Yahoo
2 days ago
- Business
- Yahoo
Are we getting stimulus checks in June? Update on 2025 Trump stimulus
Stimulus checks have been a huge topic for discussion for Americans over the last few months. The opportunities to claim or file for the first stimulus payment (issued in March and April 2020) or the second stimulus check (issued by Jan. 15, 2021) or the third stimulus check (issued between March and December 2021) have now passed. The deadline to file for the third and last stimulus check was April 15, 2025; it marked a three-year deadline to claim any tax refunds or in this case, the $1,400 Recovery Rebate Credit for 2021. Even if you received a tax extension, you still needed to file your 2021 tax return by the April 15, 2025 deadline to claim that third stimulus check. There are no extensions or appeals available for missed deadlines, and any unclaimed stimulus payments become the property of the U.S. Treasury. While speculation about a fourth stimulus check of $2,000 has surfaced on social media and unverified websites, there has been no official confirmation from Congress or the IRS to support this claim and any such news should be taken with caution as it could be misinformation or attempted fraud. For months, there was a lot of talk about another round of stimulus checks sourced from funds billionaire Elon Musk and the Department of Government Efficiency had freed up through workforce reduction and other cost-saving measures. However, Musk announced last month he's leaving DOGE and will focus on his businesses. The Department of Government Efficiency website cites an estimated $175 billion — approximately $1,087 per individual federal taxpayer — in savings through their cuts and reductions in government spending and proof in their "Wall of Receipts." However, only $70 billion is itemized thus far, raising doubts about accuracy. Investopedia defines a dividend as "the percentage of a company's earnings that is paid to its shareholders as their share of the profits." They add that dividends are generally paid quarterly, with the amount decided by the board of directors based on the company's most recent earnings. As for stimulus checks, they are money sent to taxpayers by the federal government, usually in an attempt to stimulate the economy by providing people with some spending money. The DOGE stimulus checks, or sometimes referred to as "DOGE Dividends," would give taxpayers up to $5,000 back, which would come from the claimed savings that the Department of Government Efficiency accrues on the path to its savings goal of $2 trillion, President Donald Trump said in February. According to USA TODAY, James Fishback, CEO of the investment firm, Azoria, first pitched the "DOGE dividend" concept back in February, saying on X that it would be "a tax refund check sent to every taxpayer, funded exclusively with a portion of the total savings delivered by DOGE." In response to Fishback's idea, which he developed a proposal for, Musk said, "Will check with the President." According to Fishback's proposal, the tax refund checks would be sent out after the expiration of DOGE in July 2026. "American taxpayers deserve a 'DOGE Dividend': 20% of the money that DOGE saves should be sent back to hard-working Americans as a tax refund check. It was their money in the first place," Fishback said in a separate X post. "At $2 trillion in DOGE savings and 78 million tax-paying households, this is a $5,000 refund per household, with the remaining used to pay down the national debt." In February, Trump said he would consider the plan to pay out $5,000 stimulus checks to taxpayers in the form of a 'DOGE dividend' during a summit in Miami. He explained it as using part of the 20% of the savings identified by Musk's Department of Government Efficiency (DOGE) and giving it back to taxpayers As of June 2025, there has been no actual indication that DOGE will be issuing a stimulus check to taxpayers; nor have any stimulus checks from DOGE savings been formally approved by Congress. While stimulus checks might not happen anytime soon, some Floridians can still expect to see their tax return this month. If you filed your federal taxes electronically and included your banking information, then you may expect a direct deposit within 21 days. If you did not include banking information, then you may expect a paper check refund via the mail within 6-8 weeks. Submitting your return is not the same as the IRS accepting your return. Once it is accepted, you will know it has if you see a "Refund Sent" alert when you check your tax return status online, at which point you won't have to wait too long for the funds to show up in your account. Once the IRS approves your refund, it could hit your bank account within days via the direct deposit option. The IRS has an online tool called "Where's My Refund" that allows you to check on the status of your refund. Click here. This article originally appeared on Florida Times-Union: Stimulus checks 2025: Will Floridians see a check coming in June?
Newsweek
4 days ago
- Business
- Newsweek
Donald Trump Stimulus Check 2025: What Musk Exit Means for DOGE Dividend
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The future of the proposed $5,000 "DOGE Dividend" stimulus check faces uncertainty following Elon Musk's departure from the Trump administration and the end of his tenure at the Department of Government Efficiency (DOGE). Musk announced his exit in late May, as the 130-day legal limit on special government employees approaches and concerns continue to mount over the impact of his government role on his business ventures. President Donald Trump has confirmed that his administration will continue DOGE's central mission to root out "waste, fraud and abuse" from federal spending. What Is the DOGE Dividend? The "DOGE Dividend" was initially proposed as a one-time payment of $5,000 for eligible taxpayers. This "tax refund check," the brainchild of Azoria CEO James Fishback, was to be funded with 20 percent of the $2 trillion in federal budget cuts Musk said could be achieved back in October, meaning around $400 billion split between 79 million taxpaying households. Fishback's idea received support from Musk and the tacit endorsement of Trump, who told attendees at an investment conference in February: "We're thinking about giving 20 percent back to the American citizens." Elon Musk, wearing a DOGE hat, speaks to reporters in the Oval Office of the White House on May 30, 2025. Elon Musk, wearing a DOGE hat, speaks to reporters in the Oval Office of the White House on May 30, revealed strong cross-party support for the idea, with 79 percent of Republicans and 60 percent of Democrats in favor. Additionally, 24 percent of Democrats and 29 percent of independents said receiving the check would make them more likely to vote for a Republican congressional candidate. However, in an interview with Newsweek, Fishback acknowledged that the eventual payments would depend on the actual level of savings achieved by DOGE and could be under the initially proposed figure. According to the calculations laid out by Fishback in February, the $175 billion in savings DOGE claims to have achieved would result in checks of just $2,200 per household if these were sent out today. Newsweek reached out to Fishback and the White House via email for comment. Savings Fall Short of Targets As of Musk's departure, DOGE has reported $175 billion in savings through contract cancellations, the identification of fraud and improper payments, as well as workforce reductions. This represents a fraction of the $2 trillion goal originally envisioned by Musk, a figure that the Tesla CEO has walked back several times. Numerous questions have been raised about the accuracy of the "wall of receipts" posted on DOGE's website and whether these cuts will result in savings. Analysis from the nonpartisan Partnership for Public Service recently found that the actions of DOGE could result in expenditures of $135 billion this fiscal year, due to the costs of lost productivity, rehirings and putting certain employees on paid leave. Legislative and Economic Hurdles There has been little information available on the status of the stimulus checks, including whether and when Americans can expect to receive them this year. In addition to the question of whether DOGE can generate enough savings to fund the checks, congressional authorization would be required for the disbursement of any government funds. However, no formal legislation has been introduced. "There's no appropriation for this," Elaine Kamarck, a senior fellow at the Brookings Institution and former official in the Clinton White House, told CNBC in February. "You cannot spend money without Congress telling you that you can spend money," Kamarck said. "That is illegal." Musk himself said that it was "up to Congress and maybe the president too" as to whether any checks would be distributed. However, the DOGE dividend has so far failed to receive sufficient backing from Republicans in Congress. "Politically that would be great for us," House Speaker Mike Johnson said of the checks at the Conservative Political Action Conference (CPAC) in February. He added, though, that the GOP's focus should remain on managing America's $36 trillion deficit—"pay down the credit card"—before considering giving savings back to taxpayers. Barring a significant upswing in legislative support, which is increasingly unlikely as Republicans grapple with the deficit-boosting implications of the One Big Beautiful Bill currently making its way through Congress, the future of DOGE stimulus is doubtful. Economists have also warned that stimulus of this kind could worsen inflation, similar to the impact of the checks distributed during the COVID-19 pandemic. "If inflation is already a concern, these checks could add fuel to the fire," financial planner Sarah Maitre told GoBankingRates in early May. What Happens Next With Musk's departure, the already weakened momentum behind the DOGE stimulus checks has waned. While Trump has not officially shelved the plan, the lack of action on Capitol Hill, combined with the gap between promised and achieved savings, leaves the future of the payment in question.
Yahoo
21-05-2025
- Business
- Yahoo
Are US taxpayers getting a 'DOGE dividend' check? Here's what we know about the idea floated by Trump and Musk
Back in February, James Fishback, founder and CEO of investment firm Azoria, proposed the idea of a 'DOGE dividend' on social media. It was an idea that caught the attention of Elon Musk. 'American taxpayers deserve a 'DOGE Dividend': 20% the money that DOGE saves should be sent back to hard-working Americans as a tax refund check,' Fishback posted on X. 'It was their money in the first place!' He went on to say that — with $2 trillion in savings from the Department of Government Efficiency (DOGE) and 79 million tax-paying households — this payment would work out to about $5,000 per household, 'with the remaining used to pay down the national debt.' Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) DOGE chief Musk — who has since said he's stepping back from his role — responded by saying he'd share the idea with President Donald Trump. The president then promoted the idea onstage at a summit on Feb. 19. So, can you expect a DOGE dividend check any time soon? Fishback's proposal assumed that DOGE would achieve $2 trillion in cuts — but that doesn't appear likely. Indeed, DOGE has revised its savings goal a few times from $2 trillion to $1 trillion and now to $150 billion. If, however, DOGE was able to achieve $2 trillion in cuts, Fishback says 20% — or $400 billion — could then be divided among 79 million taxpaying households. That works out to $5,000 per household. But his DOGE dividend would only go to households above a certain income threshold (those who don't get a tax refund). In other words, lower-income Americans may not qualify. Many Americans who have an adjusted gross income of under $40,000 owe little or no federal income tax, 'especially after factoring in the effects of refundable tax credits, such as the child and earned-income credits,' according to the Pew Research Center. Fishback says this makes the DOGE dividend different from the stimulus checks sent out as part of the 2021 American Rescue Plan during the COVID-19 pandemic — in which he says checks were sent out 'indiscriminately,' according to NBC News. Read more: You're probably already overpaying for this 1 'must-have' expense — and thanks to Trump's tariffs, your monthly bill could soar even higher. Here's how 2 minutes can protect your wallet right now It's worth noting that a dividend isn't the same thing as a subsidy. A dividend is a distribution of profits by a corporation to its shareholders, while a stimulus check is a payment made by a government to its citizens in order to stimulate spending and boost consumer confidence during times of economic hardship. As of May 12, the DOGE website indicates that it's saved $170 billion through a 'combination of asset sales, contract/lease cancellations and renegotiations, fraud and improper payment deletion, grant cancellations, interest savings, programmatic changes, regulatory savings and workforce reductions.' The amount saved per taxpayer is $1,055.90. While this falls far short of the $2 trillion goal, several news organizations have also reported that DOGE has overstated some of those savings and published errors and misleading information. At the same time, DOGE could actually cost taxpayers $135 billion this fiscal year, according to an estimate from the Partnership for Public Service, a nonpartisan research and advocacy group for the federal workforce. This includes the costs associated with re-hiring mistakenly fired workers, lost productivity and paid leave for thousands of federal workers. 'The $135 billion cost to taxpayers doesn't include the expense of defending multiple lawsuits challenging DOGE's actions, nor the impact of estimated lost tax collections due to staff cuts at the IRS,' reports CBS News. Either way, not much has happened lately to carry the idea forward. A formal proposal has yet to be made in Congress. Even if Americans were to get a check, at this point, it seems unlikely to amount to much. Since DOGE has revised its savings from $2 trillion to $150 billion, 20% (or $30 billion) would mean a one-time DOGE dividend of around $380. At the same time, as of May 12, tariffs are expected to cost American households around $1,200 in 2025, according to estimates by the nonpartisan Tax Foundation. And that includes low-income households who wouldn't be eligible for Fishback's proposed DOGE dividend check in the first place. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? This article provides information only and should not be construed as advice. 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Yahoo
21-05-2025
- Business
- Yahoo
Are US taxpayers getting a 'DOGE dividend' check? Here's what we know about the idea floated by Trump and Musk
Back in February, James Fishback, founder and CEO of investment firm Azoria, proposed the idea of a 'DOGE dividend' on social media. It was an idea that caught the attention of Elon Musk. 'American taxpayers deserve a 'DOGE Dividend': 20% the money that DOGE saves should be sent back to hard-working Americans as a tax refund check,' Fishback posted on X. 'It was their money in the first place!' He went on to say that — with $2 trillion in savings from the Department of Government Efficiency (DOGE) and 79 million tax-paying households — this payment would work out to about $5,000 per household, 'with the remaining used to pay down the national debt.' Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) Nervous about the stock market in 2025? Find out how you can access this $1B private real estate fund (with as little as $10) DOGE chief Musk — who has since said he's stepping back from his role — responded by saying he'd share the idea with President Donald Trump. The president then promoted the idea onstage at a summit on Feb. 19. So, can you expect a DOGE dividend check any time soon? Fishback's proposal assumed that DOGE would achieve $2 trillion in cuts — but that doesn't appear likely. Indeed, DOGE has revised its savings goal a few times from $2 trillion to $1 trillion and now to $150 billion. If, however, DOGE was able to achieve $2 trillion in cuts, Fishback says 20% — or $400 billion — could then be divided among 79 million taxpaying households. That works out to $5,000 per household. But his DOGE dividend would only go to households above a certain income threshold (those who don't get a tax refund). In other words, lower-income Americans may not qualify. Many Americans who have an adjusted gross income of under $40,000 owe little or no federal income tax, 'especially after factoring in the effects of refundable tax credits, such as the child and earned-income credits,' according to the Pew Research Center. Fishback says this makes the DOGE dividend different from the stimulus checks sent out as part of the 2021 American Rescue Plan during the COVID-19 pandemic — in which he says checks were sent out 'indiscriminately,' according to NBC News. Read more: You're probably already overpaying for this 1 'must-have' expense — and thanks to Trump's tariffs, your monthly bill could soar even higher. Here's how 2 minutes can protect your wallet right now It's worth noting that a dividend isn't the same thing as a subsidy. A dividend is a distribution of profits by a corporation to its shareholders, while a stimulus check is a payment made by a government to its citizens in order to stimulate spending and boost consumer confidence during times of economic hardship. As of May 12, the DOGE website indicates that it's saved $170 billion through a 'combination of asset sales, contract/lease cancellations and renegotiations, fraud and improper payment deletion, grant cancellations, interest savings, programmatic changes, regulatory savings and workforce reductions.' The amount saved per taxpayer is $1,055.90. While this falls far short of the $2 trillion goal, several news organizations have also reported that DOGE has overstated some of those savings and published errors and misleading information. At the same time, DOGE could actually cost taxpayers $135 billion this fiscal year, according to an estimate from the Partnership for Public Service, a nonpartisan research and advocacy group for the federal workforce. This includes the costs associated with re-hiring mistakenly fired workers, lost productivity and paid leave for thousands of federal workers. 'The $135 billion cost to taxpayers doesn't include the expense of defending multiple lawsuits challenging DOGE's actions, nor the impact of estimated lost tax collections due to staff cuts at the IRS,' reports CBS News. Either way, not much has happened lately to carry the idea forward. A formal proposal has yet to be made in Congress. Even if Americans were to get a check, at this point, it seems unlikely to amount to much. Since DOGE has revised its savings from $2 trillion to $150 billion, 20% (or $30 billion) would mean a one-time DOGE dividend of around $380. At the same time, as of May 12, tariffs are expected to cost American households around $1,200 in 2025, according to estimates by the nonpartisan Tax Foundation. And that includes low-income households who wouldn't be eligible for Fishback's proposed DOGE dividend check in the first place. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
