Currently, the American corporate capital-gains tax rate is 35 percent, which happens to be the highest rate in its history, with the exception of 1940-41 owing to World War II.
Sadly, Garrett neglects to realize that we are currently fighting two wars. He also may not realize that when adjusted for inflation, our military budget is at it's highest levels since WWII. Our deficit has ballooned 60% in 7 years, how much higher will it go with what Garrett's proposing?
In theory, for competition's sake, what Garrett is arguing in an ideal world would make sense. Unfortunately, we're not there and it would be robbing from future generations to do what he's proposing at this time.
This is the clearest example of Garrett being a cut and borrower.