What are taxes and tariffs?

Have you ever heard of a bucket list? That’s an expression people sometimes use that means something big you want to do or see or accomplish in your lifetime! For our last episode every year, we like to turn things around and WE ask a question for YOU to answer! Our 2025 end-of-y ...  Show more

Have you ever heard a fox scream at night and thought it was a human? And why, when goats bleat, do they sometimes sound like human babies? Animals can sometimes make similar noises but not because they’re feeling the same things. It often has more to do with how similar the soun ...  Show more

Everything is getting more expensive, and it’s not just inflation. The U.S. just slapped massive tariffs on Mexico, Canada, and China, and that means your grocery bill, your next car, and even your favorite bottle of tequila are all about to cost way more. But why is this happeni ...  Show more

Notes from James:

I’ve been seeing a ton of misinformation lately about tariffs and inflation, so I had to set the record straight. People assume tariffs drive prices up across the board, but that’s just not how economics works. Inflation happens when m ...

The White House's chief economist, Stephen Miran, believes that tariff increases will not have a lasting impact on US inflation, citing the limited effect of imports on the economy. “Imports are only 14% of the economy — the ability of those types of things to move the needle on ...  Show more

Is the United States victimized by trade? What causes trade deficits? Are higher tariffs a good idea? Can manufacturing jobs return to the United States? Economist Doug Irwin of Dartmouth College answers these questions and more in this wide-ranging conversation with EconTalk' ...