Are Tariffs Just Sales Taxes in Disguise?

In this episode of Rubber Meets the Road Economics, Hunter Craig sits down with Professor Edwin T. Burton to unpack one of the most pressing economic topics of our time: tariffs. With political posturing, trade wars, and rising costs dominating the headlines, Professor Burton breaks down why tariffs are effectively a regressive sales tax that hits consumers the hardest — especially those with lower incomes.

The conversation doesn’t stop at trade. Professor Burton also dissects recent inflation data, challenges the Fed’s narrative on expected inflation, and explains why the central bank’s actions don’t always align with market reality. From the politics of trade policy to the mechanics of interest rates and monetary supply, this is a conversation rich with insight and sharp critique.

In This Episode

• Why tariffs act like a national sales tax—and who really pays for them
• How proposed tariffs are impacting U.S. allies and trading partners
• Why the narrative that “China pays” for tariffs is economically incorrect
• What inflation data is really telling us (hint: it’s not what the media says)
• The flaw in the Fed’s reliance on “expected inflation”
• What the money supply reveals about real inflation drivers
• Why interest rates aren’t as controlled by the Fed as many think
• Professor Burton’s take on Powell’s leadership and policy timing
• What historical examples teach us about inflation and money printing

Guest Bio

Professor Edwin T. Burton is a renowned economist and professor emeritus at the University of Virginia. With decades of experience in academia, finance, and government policy, Professor Burton is known for his candid, data-driven perspective on fiscal and monetary policy. His work often challenges conventional narratives and focuses on the deeper forces shaping the global economy.

Key Links

• Learn more about Professor Edwin T. Burton: University of Virginia Faculty Page 
• Connect with the show: Email us at [e-mail]

Financial Disclaimer

Disclaimer:

The information provided on this podcast is for educational and informational purposes only. It is not intended as financial advice and should not be relied upon as such. All opinions expressed by the hosts, guests, or participants are solely their own and do not reflect the views of any companies or organizations they may be affiliated with. We recommend that you consult with a qualified financial professional before making any financial decisions. Remember, investing and financial decisions carry risks, and it is important to do your own research.