But there’s a weakness in basing your economic message on pulling a crazy number out of thin air: Another candidate can always pull an even crazier number out of thin air. And now Mike Huckabee has done it. The obvious choice would be to one-up Bush by promising 5 percent growth. But Huckabee, thinking two steps in advance, probably realized that if he went with 5 percent, another candidate could still leapfrog him. So he went with 6 percent.His voodoo economics seemed to be based on passing that “FAIR” tax. But never mind Huckabee as how Jeb! came up with 4% is really funny:
That ambitious goal was first raised as Bush and other advisers to the George W. Bush Institute discussed a distinctive economic program the organization could promote, recalled James Glassman, then the institute's executive director.Glassman once wrote that one should value stocks by assuming that all companies have a value to sales ratio equal to one. He also co-authored DOW 36000 which claimed valuations should be 100 times profits. How is this supposed to work unless all companies have a profit margin of only 1 percent? Pulling numbers out of thin air is bad enough but putting forth valuation multiples that are so wildly inconsistent seems to be the specialty of Team Republican.