What are your thoughts on Donald Trump's promise to reduce drug prices by up to 1400%?
Robot
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PHlover19701 · 56-60, M
After readiing the comments in this post, math is clearly not a strong area for the magas.
Lets say a maga goes the the sporting goods store to buy a new fishing lure. It retails for $10. There is a sale that day for 20% off the retail price.
10% of $10 = $1.00....so 20% is just 2x 10%...so $2 off the retail price of $10. The maga pays $8.00 at register ($10 - $2 = $8).
Now....there is another sale for 60% off that $10 lure. 60% is 6x 10%....so $6 off the $10 retail price. The maga pays $4 at the register ($10 - $6 = $4).
With me so far?
Okay....the other math way to figure that out is to convert the percentage you pay to decimal then multiple that number by the retail price. So..if the sale price is 20% off....that means youre paying 80% of the retail price for that lure. Follow along on your calculator. (Not the trump one, it doesnt work)... 80 ÷ 100 = 0.80. Multiple 0.80 by $10. 0.80 x 10 = 8. So...we got $8...same as earlier.
Do it for 60% off now...same deal. 60% off means your paying 40% of the $10 retail. 40 ÷ 100 = 0.4. Multiple 0.4 by 10 and you get 4. Same as earlier.
Ever seen a sale for 90% off retail? Pretty rare, right?. That means your paying 10% of the $10 price. Using the same formula 10 ÷ 100 = 0.10. Multiple 10 by 0.10 and you get a final price of $1.00.
Now....if 90% off a $10 fishing lure means you pay $1.00 (your only paying for 10%).....and we know 10% of $10 = $1.00. If that sale goes to 100% off that means another $1.00 comes off that price you paid at 90% off...which was only $1.00....so at 100% off that brand new fishing lure costs $0. You cant reduce something by more than 100%....because 100% is the total of it. If you eat 100% of a pie...or a pizza....youve eaten the whole thing....nothing left. 100% is gone. If you spend 100% of your paycheck....you have $0 left....because youve spent the whole thing.
Now....prove me wrong...give me 100% of your paycheck....just tell your employer to give me 100% of it....tell them to give you whats left. We'll then compare how much they give me and how much they give you. I am 100% confident you will get $0.
You cant reduce a medication by more than 100%. Just like that fishing lure...at 100% off its free. More than a 100% reduction means the company is now paying You.... How much are they paying you....well lets see...
$140 is the retail price for a medication. We know 100% off means its free (remember that brand new lure?). So lets say they reduce it by 1,400%.
1,400 ÷ 100 = 14 (Same formula we did for that lure) Multiple that numbrr by 140. 140 x 14 = 1,960. So they will pay You $1,960. Pharmacy manf in the U.S. will go bankrupt.
Lets say a maga goes the the sporting goods store to buy a new fishing lure. It retails for $10. There is a sale that day for 20% off the retail price.
10% of $10 = $1.00....so 20% is just 2x 10%...so $2 off the retail price of $10. The maga pays $8.00 at register ($10 - $2 = $8).
Now....there is another sale for 60% off that $10 lure. 60% is 6x 10%....so $6 off the $10 retail price. The maga pays $4 at the register ($10 - $6 = $4).
With me so far?
Okay....the other math way to figure that out is to convert the percentage you pay to decimal then multiple that number by the retail price. So..if the sale price is 20% off....that means youre paying 80% of the retail price for that lure. Follow along on your calculator. (Not the trump one, it doesnt work)... 80 ÷ 100 = 0.80. Multiple 0.80 by $10. 0.80 x 10 = 8. So...we got $8...same as earlier.
Do it for 60% off now...same deal. 60% off means your paying 40% of the $10 retail. 40 ÷ 100 = 0.4. Multiple 0.4 by 10 and you get 4. Same as earlier.
Ever seen a sale for 90% off retail? Pretty rare, right?. That means your paying 10% of the $10 price. Using the same formula 10 ÷ 100 = 0.10. Multiple 10 by 0.10 and you get a final price of $1.00.
Now....if 90% off a $10 fishing lure means you pay $1.00 (your only paying for 10%).....and we know 10% of $10 = $1.00. If that sale goes to 100% off that means another $1.00 comes off that price you paid at 90% off...which was only $1.00....so at 100% off that brand new fishing lure costs $0. You cant reduce something by more than 100%....because 100% is the total of it. If you eat 100% of a pie...or a pizza....youve eaten the whole thing....nothing left. 100% is gone. If you spend 100% of your paycheck....you have $0 left....because youve spent the whole thing.
Now....prove me wrong...give me 100% of your paycheck....just tell your employer to give me 100% of it....tell them to give you whats left. We'll then compare how much they give me and how much they give you. I am 100% confident you will get $0.
You cant reduce a medication by more than 100%. Just like that fishing lure...at 100% off its free. More than a 100% reduction means the company is now paying You.... How much are they paying you....well lets see...
$140 is the retail price for a medication. We know 100% off means its free (remember that brand new lure?). So lets say they reduce it by 1,400%.
1,400 ÷ 100 = 14 (Same formula we did for that lure) Multiple that numbrr by 140. 140 x 14 = 1,960. So they will pay You $1,960. Pharmacy manf in the U.S. will go bankrupt.
ArishMell · 70-79, M
@PHlover19701 Perhaps merely owning a business, or being a national head-of-state, does not need understanding simple book-keeping!
Not when you have Finance Directors, or Treasury civil-servants, respectively, to do the sums for you!
Not when you have Finance Directors, or Treasury civil-servants, respectively, to do the sums for you!