Chamath Palihapitiya Says Elon Musk, Vivek Ramaswamy-Led DOGE Could Usher In 'Economic Renaissance' With A 100-200 Basis Point GDP Surge

During a recent episode of the “All-In Podcast,” Chamath Palihapitiya discussed the potential impact of Elon Musk and Vivek Ramaswamy using the Department of Government Efficiency (DOGE) to simplify the U.S. tax code.

What Happened: Palihapitiya highlighted the significant public response to a post by the official X page of DOGE, which questioned opinions about the IRS. He noted that many people expressed a desire for a flat tax system, suggesting a willingness to pay a flexible tax rate if it meant simplifying the tax code.

“If these guys basically use DOGE as a mechanism to shrink the tax code, create a flat tax, potentially…the idea of just cutting this all the way down and then finding through that process what you actually need, I think can find America 100-200 basis points of GDP growth. It could be an economic renaissance.”

Palihapitiya emphasized that such changes would require Congressional approval but could lead to a more rational fiscal approach.

Furthermore, Palihapitiya believes this initiative could empower average Americans by giving them a sense of control over government spending, marking a moral and symbolic victory in fiscal policy.

See Also: Amid Trump’s ‘Drill Baby, Drill’ Pledge, Strategist Predicts US Oil Supply Will See ‘Marginal’ Increase:

Why It Matters: The discussion by Palihapitiya comes in the wake of President-elect Donald Trump‘s announcement to appoint Musk and Ramaswamy to lead the new department. It aims to overhaul federal agencies and cut down on government spending.

The initiative, likened to “The Manhattan Project,” is set to dismantle bureaucracy, reduce regulations, and eliminate wasteful expenditures. The department’s work is expected to be completed by July 4, 2026, aligning with America’s 250th independence anniversary. Trump’s statement emphasized the role of Musk and Ramaswamy in paving the way for his administration to dismantle government bureaucracy.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

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