Brian Armstrong, CEO and co-founder of Coinbase, has proposed a plan to reduce the size of government while bringing dividends for Americans.
Armstrong said on social media platform X, that Donald Trump’s Department of Government Efficiency is a once-in-a lifetime chance to “reduce the size of the government to health.”
The CEO of Coinbase believes that America’s founders might not have anticipated the trend for politicians to offer more gifts in order to gain more votes.
To future-proof the situation, it may be necessary to amend the Constitution so that total expenditures are capped (at 10%) or align incentives.
Armstrong believes that the US sovereign wealth fund can help increase federal spending in times of need while reducing expenditures over time.
You’d like to be able to increase spending temporarily (e.g. during wartime), while still having the correct incentives in place to prevent it from getting out of hand over time.
A US sovereign fund is an example. Every citizen receives a share, and if the budget exceeds its target it pays out a dividend.
Then, every citizen has a stake in the game. Perhaps Congress will get a larger stake .”
Coinbase’s CEO argues for a smaller federal government in the US.
Milton Friedman, Nobel Prize-winning economist and Nobel prize winner, suggested that the role of government should be restricted to only:
1. The courts enforce contracts and resolve disputes.
2. Keep the peace in your home by enforcing laws and protecting property rights ).
3. The military as a national defence .”
Elon Musk, the billionaire tech mogul who has been hand-picked by Trump as head of Department of Government Efficiency, responded to Armstrong, saying “Milton Friedman is great.”
Donald Trump, the president-elect, announced last week that he had appointed Vivek RAMASWAMY, a biotech entrepreneur and Musk, as DOGE’s leaders shortly after gaining his office. Trump claimed that DOGE will help him in his quest to “dismantle the government bureaucracy and cut excess regulations.
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Sources of Images include Pixabay Creative Commons & Midjourney
The post Brian Armstrong Proposes US Sovereign Wealth Fund that Pays Americans Dividends through Elon Musk’s D.O.G.E. The ICD published the first version of this post: Brian Armstrong Proposes US Sovereign Wealth Fund That Pays Americans Dividends Through Elon Musk’s D.O.G.E.
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