. ♪ is laura tyson, a professor of economics at university of california-berkeley. rump delivered his tax speech today. give me your big overview. what do you make of it? laura: it was a speech that started with taxes and focused very much on taxes. we have made -- it made an argument we have heard many times before, that it is not supported by data and analysis. if you have very large tax cuts that disproportionately favor the top through a trickle-down, supply-side effect, you will create some much economic growth that there will be no increase to the deficit, no increase to the debt. he actually put together remarkable numbers. he started out with the size of his tax cut. he then take away half of the effect on the deficit by saying that would just be growth. he then said that his regulatory forms -- another dose for growth. at the end of the day, if we had deficit reduction left over, it would just be waste, fraud, and abuse. the plan was not a plan, and it does not have evidence behind it. john: i believe what you're saying is that you consider this voodoo econo

thank you for joining us. >> nice to see you. >> laura tyson joining us from california. we have a little less than 30 minutes left in the trading session. >> larry summers has data showing tougher regulations he says are not making banks any safer. running a business is hard. but with your determination, and a domain, website and personal support from godaddy, you'll join millions who have gone from idea to success. start your success with a $2.99 dot com domain for the first year at godaddy dot com. >>> welcome back. today marks eight years since the fall of lehman brothers and the financial crisis on set. former treasury secretary larry summers saying since the crisis new laws haven't made big banks safer. >> a first on cnbc interview. thanks for joining us. >> glad to be with you. >> by many accounts dodd-frank and other things that washington has done on the banking industry by raising capital requirements by doing the stress test, by restraints on risk management at the banks, that they are safer today than they were eight years ago. where do you disagree on that? >

joining us now is laura tyson, the former head of the council on economic advisers under president clintonand economics out at the university of california, berkeley. professor tyson, good to have you with us. donald trump delivered his tax speech today. just give me your big overview at this point. what do you make of it? >> well, it was a speech that started with taxes and focused very muchtaxes. it made an argument that we have heard many times before, that really is not supported by data and it's not supported by analysis. that is, if you have very large tax cuts that disproportionately favor the top through a trickle-down supply-side effect, that you will gain so much economic growth that there will be no increase to the deficit, no increase to the debt. he actually put together some remarkable numbers. he started out with the size of his tax cut and then took away half of the effect on the deficit, saying, well, that would just be growth. he then said his regulatory reforms, that would be another dose of growth. and at the end of the day, well, if we had any deficit reduction leftove

former cea chair during the clinton administration laura tyson will join us on set after this break. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. yeah. well, we gotta hand it thto fedex. glasses. they've helped make our e-commerce so easy, and now we're getting all kinds of new customers. i know. can you believe we're getting orders from canada, ireland... this one's going to new zealand. new zealand? psst. ah, false alarm. hey! you guys are gonna scare away the deer! idiots... providing global access for small business. fedex. [ala♪m beeping] ♪ ♪ the highly advanced audi a4. ♪ know three days away from the first presidential debate. one topic that has topped the list of american concerns is the state of the economy. joining us now is laura tyson former chair of the economic council of advisers under president clinton. she's also called a surrogate for the clinton campaign. i don't like that word in that context but we

laura tyson will join us on bloomberg "surveillance" on radio in the 9:00 hour.ncine the kwok, tom keene in new york. , tome -- francine lacqua keene in new york. ♪ hey how's it going, hotcakes? hotcakes. this place has hotcakes. so why aren't they selling like hotcakes? with comcast business internet and wifi pro, they could be. just add a customized message to your wifi pro splash page and you'll reach your customers where their eyes are already - on their devices. order up. it's more than just wifi, it can help grow your business. you don't see that every day. introducing wifi pro, wifi that helps grow your business. comcast business. built for business. tom: the nation transfixed by a debate. francine lacqua in london, tom keene in new york. raining in new york city. for those of you global, not too far from hofstra. -- i assume just donald trump is trying to sleep off the debate. francine: the world is transfixed, not the country, the world. tom: i imagine 30 million worldwide. we have wonderful guests through the five hours today. let me get to the data, an