Money is mobile, said the ‘The 10X Rule’ author Grant Cardone
Cardone Capital fund manager and ‘The 10X Rule’ author Grant Cardone discusses the Democrats’ proposed millionaire surtax and his tip for the middle class to learn how to scale their money.
The holy grail of every entrepreneur is taking risks in order to make more time and money, according to the CEO of Cardone Capital, Grant Cardone.
Cardone, the author of "The 10X Rule," creator of multiple business programs and an entrepreneur who owns and operates seven privately held companies, told FOX Business’ Maria Bartiromo that he is concerned that the Democrats’ multitude of tax proposals would stifle business.
“I would move out of the country,” he said on Wednesday.
It wouldn’t be the first time Cardone moved -- he said the "socialist influence" in California forced him to relocate his businesses to Miami where he was able to grow his company 50 times because the tax bill was 13 percent cheaper. As a result, Cardone said he was able to create more jobs and increase wages.
“I think that people miss the idea of the concept that when I get a savings I actually, as a business person, want to reinvest, I don't want to just keep the money,” he said.
Despite Florida’s reputation for having low taxes, Cardone pointed out aside from adding to jobs and payroll, he also contributes by paying property taxes.
“Property taxes on $1.5 billion is about $30 million a year in property taxes,” he said.
Cardone was named the No. 1 marketer to watch by Forbes Magazine.