http://www.swifteconomics.com/2010/03/17/swift-wits-premiums-will-drop-3000-percent/ economic wit in a stuffy world Wed, 08 Sep 2010 16:32:46 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://www.swifteconomics.com/2010/03/17/swift-wits-premiums-will-drop-3000-percent/comment-page-1/#comment-1002 Martha Mon, 22 Mar 2010 19:00:37 +0000 http://www.swifteconomics.com/?p=5278#comment-1002 A reduction "by" is not the same as a reduction "of." A reduction "by" means you divide (by), ie if an employer pays $10,000, a 3000% reduction is $10,000/ 3000% = $333. In other words if they paid $333 now, they saw a 3000% reduction. A reduction "of" would be $10,000 multiplied by 3000% giving you the crazy numbers, and that wouldn’t be a reduction! It would have been simpler if he had said employers may be paying up to 3% "of" their current cost. But then what sounds more profound, 3 or 3000? After-all it is politics. A reduction “by” is not the same as a reduction “of.” A reduction “by” means you divide (by), ie if an employer pays $10,000, a 3000% reduction is $10,000/ 3000% = $333. In other words if they paid $333 now, they saw a 3000% reduction. A reduction “of” would be $10,000 multiplied by 3000% giving you the crazy numbers, and that wouldn’t be a reduction! It would have been simpler if he had said employers may be paying up to 3% “of” their current cost. But then what sounds more profound, 3 or 3000? After-all it is politics.

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