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tariffsGOBankingRates
•79% Informative
Former President Donald Trump recently said he was considering eliminating income taxes and replacing them with tariffs.
If this were to materialize, it could have enormous impacts on boomers many of whom have been struggling to keep up with their retirement savings.
For some boomers, this could be a welcome change, some experts said.
Yet, replacing taxes with tariffs could prove inflationary, putting even higher pressure on everyday prices.
A recent AARP survey found that 20% of adults ages 50 and older do not have retirement savings.
A big share of boomers’ budgets is on health care, home improvement and entertainment.
Healthcare and health-related products would be one that specifically pertains to boomers.
Consumer goods and technology products which rely heavily on imports would see price hikes.
VR Score
82
Informative language
85
Neutral language
59
Article tone
semi-formal
Language
English
Language complexity
61
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
26
Source diversity
15
Affiliate links
no affiliate links