Make Me Smart What's inside the new GOP tax bill?
May 12, 2025
House Republicans propose a sweeping tax plan that promises massive tax breaks but raises concerns over potential costs. Apple hints at increasing iPhone prices due to tariff uncertainties, affecting consumer goods everywhere. Meanwhile, Tolkien's concept of 'sub-creation' showcases the comforting power of fantasy in tough times. A light-hearted discussion emerges about the new pope's love for baseball, revealing his surprisingly relatable side. The hosts also tease a future dive into the mysterious planet K218b and the vital role of public media today.
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Apple's Price Hike Strategy
- Apple plans to raise iPhone prices without blaming tariffs, despite tariffs being partially on hold.
- Companies may use tariffs as excuses to increase prices beyond actual tariff costs, leading to overall price elevation.
Consumer Caution Alters Sales Data
- Consumers are becoming more mindful about purchases despite initial stockpiling due to tariffs.
- Retail and trade sales figures will be skewed for months, complicating economic assessments.
GOP's Sweeping Tax Plan Risks
- The new GOP tax package aims to extend 2017 individual tax cuts, requiring $4 trillion+ in breaks mostly funded by social program cuts.
- The bill targets many sectors while trying to pass without Democratic votes, making its passage likely and impactful.
