Article says households, not individuals. These guys haven't hardly cut at all. The largest expenditures are the four horsemen of the budget: SSI, DoD, Medicare, Medicaid. Then interest on debt.
Gimmicks right now, to cut 2 Trillion would be cuts on those, that hasn't happened. These guys saying massive cuts are sounding like used car sales men.
You cut 2 Trillion in a year, you will have to use any extra revenue to handle a massive recession. We've been propping up the economy with extra spending for decades.
The best dividend you could give the US Citizen is the replacement of the income tax with a consumption tax.
What it would cure, in very short order, is the distortion in the money supply. A relatively high consumption tax would get people to direct their extra windfall toward saving and paying their way out of the holes they’ve made.
Between tariffs and consumption tax, the amount you pay in tax becomes discretionary instead of compulsory. The money placed in savings would come out of the money supply, taking the pressure of using interest rates as a means of regulating inflation.
Also, it’s not going to ‘cost’ the government anything. I very much dislike the USG giving me a check knowing at this point that money is still borrowed.
Get to the point where it is a real dividend. Repeal Income Tax. Stand back and watch the economy expand organically.
yes, I know it says households, but if you ask the common person for whatever reason since it was a tweet, they all think that everyone is gonna get $5000 the way people got money during Covid. There are 79 million tax paying households in the United States and if you multiply that by $5000, that’s about $400 billion. There is no way that Elon Musk is going to cut that much money so I just don’t understand why people think this is going to happen.
So if I own my own house, and only my name is on the mortgage, would the check be made out to me regardless of who lives with me?