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Yet, replacing them with tariffs could prove inflationary, putting even higher pressure on everyday prices.
Pros for Boomers
For some boomers, this could be a welcome change, some experts said.
Meanwhile, for the 65 and older cohort, its $1,154.
In turn, this translates into annual incomes of $62,244 and $60,008, respectively.
Which Specific Price Hikes Could Affect Boomers and Offset Advantages of No Income Tax?
According toNBC News, Americans over the age of 65 spent $7,540 a year on their health.
For instance, these could include electronics, apparel, as well as cars, Sexton said.
This could also impact boomers who rely on technology for communication, entertainment and health monitoring, he said.
Housing prices
Finally, the housing sector could also be affected.
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