This is brilliant. Most people would switch parties for 5k in their pocket.
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138 sats \ 4 replies \ @Beeteesea 20 Feb
Sure there isn't a decimal error somewhere? Maybe the check will be $5...
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63 sats \ 1 reply \ @siggy47 OP 20 Feb
Why? It doesn't have to be real savings. Money printer go brrrrrr
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36 sats \ 0 replies \ @0xbitcoiner 20 Feb
brrrrrr
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66 sats \ 0 replies \ @Undisciplined 20 Feb
Elon is a foreigner. Maybe that comma is supposed to be a decimal point.
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39 sats \ 0 replies \ @ChrisS 20 Feb
"DOGE aims to deliver $2 trillion in federal spending cuts during its 18-month lifespan.
Fishback’s proposal calls for 20 percent of the $2 trillion in savings—approximately $400 billion—to be returned to 79 million tax-paying households via direct payments."
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66 sats \ 6 replies \ @nerd2ninja 20 Feb
That's gonna be inflationary as fuck boi.
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70 sats \ 0 replies \ @siggy47 OP 20 Feb
NGU! Wen Lambo?
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0 sats \ 4 replies \ @justin_shocknet 20 Feb
Not necessarily, the alternative is deflationary collapse
Not every dollar printed sticks around, interest payments destroy dollars which is why they need to brrrrr in the first place... its a balancing act but the risks are asymmetrical bad to the downside
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0 sats \ 3 replies \ @nerd2ninja 20 Feb
No but Justin look, its a payment to everyone indiscriminately. That's why its going to be inflationary. Its not just to people who have high interest rates to pay off or rich people who probably won't spend it anyway because they already have so much money.
Just look at any town with a government project. The pipeline used to be a huge example. When its known that (almost) everyone makes so much money, prices go up. Whereas if only a few people have a bunch of money, well they aren't changes prices based on who you are.
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0 sats \ 2 replies \ @justin_shocknet 20 Feb
In terms of money supply, it's less money in circulation than was already being spent. Fact not speculation.
The effects may be different sure, it's less towards mortgages in the DC area and more towards down payments on Ford Expeditions somewhere in the sun belt...
Still, as long as it's less than was already going out (claimed to be 20% of savings) then its only slowing dollar destruction, not increasing the overall supply to chase after goods.
EDIT: I still think its good for corn, better that 5k be free to chase corn than 25k paying DC mortgages. Trump is an economist, he doesn't want inflation, and sees assets like corn and stocks to be a measure of savings health.
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17 sats \ 1 reply \ @nerd2ninja 20 Feb
So I don't know if you picked up on this or if you missed it. Yes its the same money supply, but the money velocity I would argue is going to look a lot different. Not everybody is bogged down with debt, but everybody is going to get this money and not everyone is bogged down with debt is going to use all of this money to pay off that debt (should, but won't)
This is why I'm arguing that while the money supply will stay the same, there will be a greater money velocity.
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0 sats \ 0 replies \ @justin_shocknet 20 Feb
good distinction, and yes it'll look different... I used the expedition example because my truck outperformed Bitcoin after covid stimmies, lol
But you're still buying stuff FROM somebody, when you buy a car the dealer pays off their floor plan... which is debt
When you buy a deck, the builder has debt...
It all goes towards debt eventually in a debt based monetary system, to your point it might take extra hops (the builder and the car dealership)... but that's much different than supply inflation which is sticky and broad... I don't think we'll see beef or egg prices get worse for example.
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36 sats \ 0 replies \ @ndLightningBoy 22h
Trump keeps sending me socialism checks and I keep buying Bitcoin with them.
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36 sats \ 0 replies \ @kepford 20 Feb
This is how Democrats win many votes. Buy them off.
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36 sats \ 1 reply \ @grayruby 20 Feb
It will be popular but aren’t they supposed to be trying to cut the deficit in half? I would rather see this than the money go to political waste and corruption but spending all the money they save isn’t going to fix the deficit.
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40 sats \ 0 replies \ @siggy47 OP 20 Feb
Sure. I just don't have any hope that either side will stop spending, so they might as well give some back while it still has purchasing power. If the US goes into a serious economic downturn, Trump will be leading the printing party.
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36 sats \ 0 replies \ @jgbtc 20 Feb
All the insane leftists will surely donate their checks to fund circumcisions for albino humpback whales in Mongolia or whatever we were funding.
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57 sats \ 0 replies \ @justin_shocknet 20 Feb
TDS/EDS will hate UBI now that it's run efficiently and not completely used for bureaucrat money laundering
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45 sats \ 3 replies \ @freetx 20 Feb
Just do away with the income tax... give the public an income tax jubilee
I think the case could be made that given that massive fraud, money laundering, and criminal activity by government workers, tax collection should be suspended until procedures can be put in place to prevent this from happening again.
Trump could then use this "temporary tax pause" as a stepping stone to make it permanent (which is what he really wants to do anyway).
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45 sats \ 0 replies \ @kepford 20 Feb
There's a lot more cutting that would have to be done to make that work. He should... but I don't see that happening for a multitude of reasons.
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57 sats \ 1 reply \ @justin_shocknet 20 Feb
He's already talked about getting rid of it, Lutnick confirmed yesterday
Tariffs being used as a form of sales tax with better incentives
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26 sats \ 0 replies \ @freetx 20 Feb
Yep, already a bill issued #891768
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36 sats \ 3 replies \ @Aardvark 20 Feb
It would have to get past congress etc. If I get a check its just going straight into bitcoin anyhow.
So I wouldn't turn my nose up on free sats.
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109 sats \ 2 replies \ @siggy47 OP 20 Feb
Imagine a congressman or senator voting no?
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36 sats \ 0 replies \ @kepford 20 Feb
Party lines... many democrats seem to be committing political suicide right now.
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36 sats \ 0 replies \ @Aardvark 20 Feb
I've seen stupider shit, but yea, ut wouldn't be very popular.
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