Extremely high data rate communication can potentially be achieved by combining high-order modulations and wide bandwidths at millimeter-wave (mm-wave) frequencies. However, it has been challenging to practically implement this combination, even if the SNR of the system appears to be sufficiently high. An explanation from a recent theoretical study is that the practical data rates in mm-wave systems are limited by the local oscillator (LO) white phase noise. In this letter, we present an experimental investigation on whether the white noise floor of frequency multiplied LO sources is a major noise contribution to wideband signals. Hardware measurements are performed using multi-gigabit 64 quadrature amplitude modulation (QAM) signals. The measured results show that the transmitter performance degrades as the LO noise floor increases. Hence, the LO noise floor is identified to be one primary limitation for achieving the highest possible data rate in wideband mm-wave systems.