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Carl Icahn: Here's why I'm supporting Trump for president

Carl Icahn speaking at Delivering Alpha in New York on Sept. 13, 2016.
David A. Grogan | CNBC
Carl Icahn speaking at Delivering Alpha in New York on Sept. 13, 2016.

A Donald Trump presidency would see a more robust business climate through fewer regulations and an economy that would grow faster with more people working, according to Carl Icahn's view of the political world.

Icahn has been public with his Trump support, and elaborated Tuesday on why he is backing the billionaire businessman.

"If you look ahead four years or three years even, if Trump gets elected this economy will be a lot better of than if Hillary is elected," Icahn said at the Delivering Alpha conference presented by CNBC and Institutional Investor.

"There's a lot of problems I think what she wants to bring in — more government and bigger government," he added.

Icahn spoke at length about business regulation in particular, relating an anecdote in which he butted heads with environmental restrictions.

Clinton, he said, professes to support businesses but then talks about increasing taxes and regulation.

"Trump, on the other hand, will say, hey I'm going to change the regulatory agencies," Icahn said.

Wall Street has been shoveling money into the Clinton campaign, and recently some high-profile names have given her public support on the belief that the Democrat will create a more stable economy.

"They're wrong, because you need to do something about productivity in this country," Icahn said. "You don't have jobs and you don't have people working, sooner or later this blows up, and it blows up in so many different fashions."

The economy, despite slow overall growth that hasn't exceeded 3 percent for a calendar year since the 2008 financial crisis, has seen more than 12 million new jobs during the period. However, wage growth has been elusive and productivity has been flat.