The possibility of receiving $5,000 dividend refund checks from Elon Musk’s Department of Government Efficiency (DOGE) was a hot button topic on social media on Wednesday.
It all started when an X user asked Musk to send out $5,000 refund checks to every taxpayer funded by the savings from massive government fraud.
Musk said he would discuss the plan with President Donald Trump.
On Wednesday, Trump said he would consider the plan. He noted that 20% of DOGE savings would go to taxpayers while another 20% would go toward paying down the national debt.
It wouldn’t be a one-time payout. Americans would receive annual dividend checks from DOGE savings just like investors receive dividend checks from the stocks they buy.
DOGE Dividend checks could be the first step on a journey to prosperity for Black Americans
According to NewsOne.com, the DOGE Dividend checks could help Black Americans alleviate tight economic costs.
If the DOGE Dividend proposal goes through it could help many Black Americans who are struggling to make ends meet due to high inflation and economic headwinds.
A 2024 survey conducted by Achieve found that 76% of Black consumers were living paycheck-to-paycheck, with 43% struggling to make ends meet and 33% feeling financially comfortable.
DOGE Dividend Checks Could Help Black Americans Save Money
Annual $5,000 or $10,000 DOGE dividend checks could be invested in high-yield exchange-traded funds, or EFTs, that replace savings accounts.
High-yield EFTs can help build a diversified portfolio that provides steady income later on in life.
An anual $5000 dividend check is 300% more than the stimulus check Americans received during the COVID-19 pandemic in 2020.
Annual Dividend Checks Could Cut Down On High Costs of Living
If allocated properly and on time, a DOGE refund could provide much-needed relief to help Black communities cut down on the rising costs of living and surviving in American, according to NewsOne.
However, it’s a double-edged sword. While the check could be helpful, it could also come at the cost of millions of federal government jobs being lost, along with funding for agencies that support programs indirectly benefiting Black communities. Black workers make up 18.6% of the federal workforce, according to 2024 data from Pew Research. If they lose their jobs, how will they make ends meet? With the future of the Department of Education and its federal funding at risk, hundreds of programs dedicated to supporting Black students — such as financial aid, scholarships, housing, graduation ceremonies, and other aspects of academic and campus life—could be jeopardized. The question remains: is receiving this $5,000 check worth the potential consequences?
