some argue that would generate more money from unsell cam. my -- uncle sam.y next guest has a long list of reasons that this would hurt the economy. he is the from the cato institute and head of downsizing dost government.org. thank you for joining us on this holiday. >> thank you. adam: why won't it raise more money if we raise the capital-gains tax? why won't it raise the money for treasury. >> capital is very mobile. we live in a globalized economy. if the united states raises its taxes on capital, in other words, investment, investment will flee across international borders. countries that have high tax rates on capital shoot themselves in the foot. for that reason, just about every industrial country has a, has cut their capital-gains tax rate. so, for example, our capital-gains tax rate tomorrow, will jump up to 24%. we have state level taxes on top, that brings us to 28%. but the average in the industrial world is just 16%. that is because just about every country realizes if you have a high capital-gains tax rate, you shoot yourselves in the foot and