"Your employer...would see premiums fall by as much as 3,000 percent, which means they could give you a raise."
- President Obama
This is bad math...VERY bad math.
Consider the equation as our president suggests:
Let's say your employer is paying $10,000 per year for your health care benefit.
If it goes down 100%, that would make it $0.00
If it goes down an additional 2900%, that means your employer would RECEIVE $290,000!
***
Here's the math in case you're interested: after losing the first 100%, which is the ENTIRE $10k premium, the remaining 2900% multiplied by the premium amount (10k) is 290,000
Again, 2900% x 10,000 = 290,000
Can anybody believe this!? Do you know the audience actually clapped?!
If the Dems don't get this push for health care do you think Obama will resort to saying your premiums will go down by a "million ca-zillion percent"?
Or maybe he'll start using his hands to illustrate the benefits of Obamacare, saying premiums will go down (stretching his arms as far as they can go) THIS much .
I'm home with little kids all day, so that falls more in line with my every day lingo.
Mr. President, I don't believe anything you say this much {...........................................}
(And I have long arms)
Source: Rush Limbaugh 03.16.10
Just heard this on the radio...unbelievable. How can we hope for him to learn from basic economics if he can't understand basic math?
ReplyDeleteI deal with a lot of percentages in business.
ReplyDelete(Margin vs Markup, multiplying by percentages and then dividing by percentages. It gets really confusing, but I can't even think of a way to get that confused.
Has anyone heard his explanation for this?
Seriously! You would think someone would have explained or at least written down the real numbers in his script he always follows (oh wait, they always turn the numbers anyway.) This really makes him look smart!
ReplyDelete