Grant Cardone: A Harris Presidency Could Ruin Your Chance at the American Dream
Written by
Gabrielle Olya
Edited by
Ashleigh Ray
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Kamala Harris has promised that she will create an “opportunity economy” that will help middle-class Americans if she is elected president. But Grant Cardone, fund manager and CEO of Cardone Capital and Cardone Training Technologies, believes that a Harris presidency would be detrimental to the middle class.
“She will ruin the hope of the ‘American dream’ for at least 15% of Americans,” he told GOBankingRates. “She will literally take the chance of the American dream away from 45 to 50 million middle-class people in this country. [A Harris presidency] will not hurt the rich. Wealthy people always make money under Democrats — the middle class gets crushed.”
Here’s why Cardone, who will be hosting the 10X Wealth Conference in Aventura, Florida on Nov. 17-18, says the middle class will suffer under a Harris presidency.
Higher Taxes on Businesses Will Lead To Fewer Jobs
Harris has proposed cutting taxes for middle-class families while increasing taxes for wealthy Americans and large corporations. Cardone believes this will actually end up hurting the middle class.
“Kamala Harris will put the middle class on a downward spiral that might be irreversible because of her tax policy, because she taxes me as a businessman,” he said.
Cardone believes that if business owners are forced to pay more in taxes, this will end up hurting workers because employers will cut jobs as a way to cut costs.
“Look at the minimum wage thing that they tried to press,” he said. “All the smart business people just said, ‘OK, I’m just going to go to part-time [employees]. I’m going to stay under 40 hours, and I don’t have to do that.’
“Same thing with healthcare,” Cardone continued. “Most of these big companies that are 10,000 employees, they’re just doing 38 hours, and then they don’t have to provide healthcare. So anytime the government mandates to the local business or big business, they’re either going to figure out how to skirt the program, or they’re going to figure out how to eliminate jobs.”
Businesses Will Raise Prices, Making Things Less Affordable for the Middle Class
Although Harris has promised to stop price gouging, Cardone doesn’t believe she can increase costs for businesses while expecting them to keep prices low.
“She says we’ve got to pay people more money, and now we have to limit how much people can sell their products for,” he said. “You can’t have it both ways. If you want me to pay people more money, OK, I’ll pay people more money. But then you can’t say that I’m price gouging when I raise my prices.”
Cardone believes only the wealthy would benefit from a Harris presidency — not the middle class.
“The only people that benefit from a Harris victory are people that are connected, the big banks, the rulers of the universe.”
Editor’s note on election coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
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