The most valuable learning to result from Organic Chemistry comes from proving (or disproving) something for yourself. Build a model of phenoxide, and assess whether you believe it is a bulky base when compared to tert-butoxide.
Now, let's talk about pKa. What's the pKa of ethanol? What's the pKa of phenol? What's the difference in basicity between the two alcohols in terms of orders of magnitude?
What is present in phenoxide that is not present in tert-butoxide? How does this help explain the lower pKa of phenol vs. ethanol?
Does it now make sense that phenoxide would be basic enough to effect an E2 reaction, or would it be more inclined to effect SN2?
Most importantly, what are the odds of getting an E2 with methyl tosylate? Ethyl tosylate?