From 24/7 Wall St. · Mike Barrington · · 1m 50s
Elon Musk Wants Treasury to Send Checks
Elon Musk says AI could make money unnecessary by 2036, urging Treasury to issue checks.
In brief
Elon Musk says AI could make money unnecessary by 2036, urging Treasury to issue checks. Elon Musk argues AI-driven productivity could eliminate work by 2036, requiring Treasury to issue universal high income checks. Originally reported by 24/7 Wall St..
Musk's AI Future Vision
Elon Musk told The Economist that AI could make work optional by 2036.
“work is going to be optional”
Treasury Checks Proposal
Musk suggested Treasury issue people checks if AI eliminates most human labor.
“issue people checks”
DOGE Era Background
Musk served as a special government employee in DOGE during Trump's administration.
“Department of Government Efficiency”
DOGE Savings Target
Musk initially claimed federal spending could be cut by at least $2 trillion.
“$2 trillion”
DOGE Savings Progress
DOGE reported $215 billion in savings through contract cancellations and workforce reductions.
“$215 billion”
GAO Audit Findings
Government Accountability Office found 96% of DOGE grant savings lacked verification.
“96%”
Workforce Reductions
Federal employment fell by 256,000 workers across 22 agencies between Dec 2024 and Jan 2026.
“256,000”
Musk's Tax Estimates
Musk estimated taxes consume 45% of income and could take another similar share at death.
“45%”
Current Federal Spending
Federal outlays reached $7.01 trillion in fiscal 2025, up from $6.73 trillion in fiscal 2024.
“$7.01 trillion”
Inflation Status
Consumer prices were 3.4% higher in August 2026 than a year earlier.
“3.4%”
Musk's Universal High Income
Musk distinguishes universal high income from universal basic income, arguing it requires abundant goods and services.
“universal high income”
DOGE Savings Decline
DOGE's savings target dropped from $2 trillion to $150 billion in fiscal 2026.
“$150 billion”
Musk's AI Productivity Claim
Musk argues AI could create goods and services faster than money supply grows, causing deflation.
“deflation”
Musk's 2036 Prediction
Musk predicts money won't matter in 2036 if AI makes goods and services abundant.
“money won't matter in 2036”
What to remember
Elon Musk argues AI-driven productivity could eliminate work by 2036, requiring Treasury to issue universal high income checks.
