DAILY MAIL
President-elect Donald Trump could use the Department of Government Efficiency (DOGE) to create an “economic renaissance” if his incoming administration is able to significantly decrease the number of regulations, a venture capitalist said this past week.
Chamath Palihapitiya, who held a fundraiser for Trump earlier this year with fellow tech investor David Sacks, spoke about the potential boons of Elon Musk and Vivek Ramaswamy‘s efforts leading DOGE under Trump in the latest episode of the “All-In” podcast.
NEW: Chamath Palihapitiya says he thinks the U.S. economy could be growing at 5% if it wasn’t for excessive regulations, calls on the Trump admin to use DOGE to create a flat tax.
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During the All in Podcast, Chamath said DOGE could ignite an “economic renaissance.”
“I think… pic.twitter.com/qucDUoFf7c
— Collin Rugg (@CollinRugg) November 23, 2024
“None of these regulations have expiring dates, and so as a result, I think what you probably have is an incredible restraint on the U.S. economy,” Chamath said while addressing a chart that showed the thousands of regulations federal agencies issued each year.
“I think that the U.S. economy could be growing at 4 or 5%, but the reason that it doesn’t grow at 4 or 5% is in that one single chart. It is impossible to be able to live up to your economic potential when you have this burden on your neck,” he said.
The “real opportunity” for DOGE, Chamath posited, is to “basically do whatever it needs to do using the law to wipe as many of these regulations off the books.” He added that it would be “better” to cut them all to “zero” and reenact the ones found to be necessary in a “piecemeal” fashion.
