Grant Cardone goes 10x MAGA at Trump Rally [FACT CHECK] NYC

wow we need to fact check what Grant

Cardone just said at the Madison Square

Gardens New York City event with Donald

Trump first of all I'm wondering how

much Cardone has donated to Donald Trump

to get the opportunity to make the

speech but I will say he gave a powerful

speech he said everything he should have

said and he invigorated his base which

is perfect it's useful for Donald Trump

and I think it was powerful Cardone has

interviewed Donald Trump before and

endorsed him in previous elections so

what has happened in this particular

speech that was correct and what was not

exactly correct and why does it matter

well I think it matters because the

differences are useful to understand so

let's get right into it first things

first Gran Cardone says that blue cities

are more expensive he says everything

from food housing rent are more

expensive and therefore Democrats make

things bad but it's worth noting that

there are two types of blue cities now

again both of them are blue cities but

there are really desirable blue cities

and then there are undesirable blue

cities and it's unclear whether that's

because of politics since you get the

problems in both or cities for some

reason just more blue because there are

some cities that are more expensive like

Santa Barbara Hartford Connecticut

Honolulu Boston Santa Rosa San Diego

Miami and these technically vote blue

and they are more expensive but they

also attract a lot of people because

they have a lot of jobs they create a

lot of gross domestic product and they

tend to have overall wealthier people

living in the cities it doesn't mean

everybody is wealthy it just means for

some reason people go to these cities

and people don't go to the cities

necessarily because of the politics but

when they are there they might end up

putting up with some of the nimbyism the

not in my backyard ISM or maybe

contributing to it or putting up with

the city litigation blocks that make it

hard for you to actually build new

housing which does drive up prices in

these sort of cities but you also have

the same problem in some of the more

dangerous blue cities in fact Cardone

suggests that all blue cities are more

dangerous but it's really just some of

the blue cities that are more dangerous

so these wealthier cities that I talked

about none of them show up on the list

of the most dangerous cities in the

country most dangerous cities in the

country are going to be your Detroit

Memphis uh Birmingham Baltimore St Louis

Kansas City Cleveland Little Rock

Milwaukee and Stockton those are your

top 10 most dangerous and none of those

are your top 10 most expensive so I

don't know that you have a really clear

correlation here because on one hand

cardone's trying to say the most

expensive also have the most crime but

that's not true the most expensive are

not the most crime ridden the least

expensive are the most crime ridden and

the most expensive are not the most

crime ridden and they both happen to be

blue so I'm not really sure what to make

of that argument I I don't know if

that's a compliment to the Dems or the

Republicans so I'm just going to give

this one to to Cardone because I'm not

really sure what to make of it but I'm

going to give a little bit of an opinion

on it and then we'll get into some that

are a little bit more clear when it

comes to differences in these cities

it's important to know that

what attracts people to cities can be

very different some cities attract

people because they are

cheap some cities attract people because

they have really high-paying jobs and

the people are qualified for those

jobs that doesn't mean anybody any

individual went to those cities because

they wanted to vote blue it also doesn't

mean that they went there to vote blue

they might damn well be a Republican and

just un fortunately have a job that push

them into the city for their case

because maybe they totally disagree with

the liberal politics or maybe they're

liberal and they're like cool I feel at

home I don't know I'm not imparting an

opinion just saying there is a

difference there that Cardone doesn't

hit on and he does link most expensive

to most crime and it's actually the

exact opposite it's the least expensive

are associated with the most crime they

just both happen to be liberal okay so

with that out of the way let's go to

some that are a little bit more clear

Cardone talks about uh kamla Harris's

and Tim Walls plans on adding 87,000

employees to the IRS and how these tax

policies don't add

up okay let's clear this up this is very

very old news Cardone Joe Biden passed

the inflation reduction act in 2022 the

IRS has been directed by Janet Yellen

via the treasury Department to increase

tax taxation collection efforts on those

making over

$400,000 now Cardone says they want to

audit all of you pointing at the

audience why do you need 87,000 agents

for 800 billionaires that's like 1,000

IRS agents per billionaire that's crazy

it doesn't make

sense yeah it doesn't make sense because

you're saying the wrong thing Grant

Cardon there are over 3.8 million

households in America that earn more

than $400,000 per year that actually

works out to just one additional IRS

agent per 43 families making over

$400,000 a year now I'm not a shill for

more Taxation and more IRS agents but I

am here to say that a this is a Biden

policy which yes of course Republicans

are going to try to link kamla Harris to

this and Kam Harris probably supports it

anyway so maybe that's fair uh but

number two this is old news and number

three at least the stated intention is

for those making over 400,000 and when

you look at the numbers the way I've

described them it makes sense now could

they be lying to us of course but on

this one I'm going to say cardone's

wrong on this one next one uh Grant

Cardone says that she passed the

inflation reduction act and promised us

three trillion trillion dollars worth of

inflation reduction and we got more

inflation

instead and she says she's going to

build more homes but she's never built a

home in her life

okay well she probably hasn't worked at

McDonald's either but I'm not sure that

working at McDonald's or building a

house really matters but let's just put

that one aside for a moment because that

one can get very politically charged

let's assume neither of those matter

let's just consider what analysts are

saying when we give credit where credit

is due we can look at Goldman Sachs who

says that the inflation reduction act

which authorizes over $300 billion in

spending which will like be interpreted

to cause over $1.3 trillion in spending

through loose interpretations will very

likely create inflation at first however

later in the decade it will likely be

deflationary so as a result of this

Grant Cardone is correct the inflation

reduction act actually creates inflation

however in the future it will create

deflation which Cardone did not mention

but that doesn't make him wrong it does

create inflation at first when you spend

on green infrastructure structure or new

manufacturing you're spending more money

without getting the result of that new

manufacturing capacity yet and when that

capacity comes online that's when you

start to see the deflationary effects

unfortunately those will probably come

at a time when we're already facing

disinflation and deflation in the future

and it could lead to significant wage

deflation and a lot of people getting

hurt in the long

term government policies often have

unintended

effects now so on this one I'm going to

say Cardone you are

correct on illegal immigrants Grant

Cardone says she let in 20 million

homeless illegal

immigrants okay well first of all there

isn't exactly a count on how many people

who have gotten into the country were

homeless versus just illegal a lot of

people come into the country and have a

place to

go that said let's just for a moment

assume that doesn't matter

as of

2020 there were

approximately 11 million

unauthorized illegal immigrants in

America that is actually lower than the

peak of 12.2 million in

2017 now yes part of that is probably

due to some amnesties but this 20

million number that we keep hearing

thrown around is really just a pie in

the sky

estimate and keep in mind that at least

10.2 million illegal immigrants were in

America as of when Trump left office in

2020 so like even if you say 20 were

here today half of them would have been

in here by the end of Trump's term and

yes in that case worst case it would

have doubled but and I'm not saying

that's good but no data reiterates that

data suggests that yes maybe the illegal

immigrant population has grown by maybe

10 to 20% 1 to 2 million and then of

course you've had some amnesties on top

of that so maybe throw in another

million or so and that is significant

I'm not downplaying that there is a

problem but it doesn't appear to be a

full 20 million and that full 20 million

even if it

were didn't come under the back of the

Harris uh well Biden Administration we

have to be careful here because remember

Harris is not the president uh Joe Biden

is the president I know this is still

somewhat hard for all of us to believe

because we all sort of wonder how did

someone like Joe Biden actually lead not

because we think he's a bad person

necessarily but

because we all kind of just want to know

when did he lose his competence it does

make us a little nervous but then again

as I made videos on his Channel about we

knew he was going to get replaced it was

just a matter of when and not if and so

that did end up happening

uh next 20 million small businesses are

breaking even or losing money so this is

an interesting one the small business

administration indicates that there are

currently 33 million small businesses in

America oh on that one Cardone sorry

you're wrong probably on the illegal

immigrant one it this is a pie in the

sky number that gets thrown around I

still haven't seen dad on it maybe

somebody can give me a comment on that

in the in the comments down below with

an actual

citation uh uh account although who

knows maybe the counts are wrong next uh

20 million small businesses are breaking

even or losing a or losing money and

Harris wants to support new businesses

20 million new businesses new small

businesses but not the existing

businesses that are already in existence

and are struggling all right so this is

interesting so if we break this down we

find that there are

33.8 million small businesses in America

according to estimates only about 40% of

the small businesses are profitable well

that works out to about 20 million

businesses that are Break Even or losing

money so Grant Cardone is correct there

are about 20 million small businesses in

America that are barely making it and

are probably at risk of shutting down

KLA Harris wants to increase the small

business deduction from $5,000 to

$50,000 per the IRS this is only

available for initial startup costs not

ongoing costs

this would mean that current existing

businesses would not be eligible for

that increased deduction from 5K to 50K

and therefore this would only benefit

new businesses not existing small

businesses therefore Grant Cardone is

correct about

this unrealized capital gains this is an

interesting one Mark Cuban has argued

that he would be anti- endorsing kamla

Harris if she supported attacks on

unrealized gains He suggests this would

be an economy killer and a really bad

idea

and uh the Harris campaign has not come

out to say that they are

anti the unrealized capital gains tax

which would be very

bad the current proposal would impose a

25% minimum tax on an increase of your

wealth if you have more than $100

million in wealth so in other words if

you have $100 million in wealth and your

stocks go up 10% in one year to 110

million they would send you a bill for

$2.5

million even though you didn't sell any

of those stocks and so a lot of people

think that would lead to a flight of

capital from the United States and the

stock market and a lot of selling before

the law goes into effect and blah blah

blah

blah cardone's right about this the

Harris Administration has not denied

their support for an unrealized capital

gains tax so uh with that said let's add

this up up going in reverse order

unrealized capital gains tax Cardone was

right about that small business tax

Cardone was right about that that's two

out of two on the illegal immigrants I'm

going to say that's an exaggeration so

I'm not going to give that one to him

I'm going to go two out of three on that

on the inflation reduction act causing

inflation and then deflation yeah he's

right about that that's three out of

four he's right

about uh they will audit everyone in

this room no so he's right on three out

of five and then on the blue State issue

I'm going to give him that

one uh because blue States or blue

cities do exhibit principles of both of

those though they don't overlap they

seem to almost be mutually exclusive uh

but anyway I give him three out of six

on that which means he scored a

50% on my fact check anyway if you like

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