Many - even many whose estates would not be taxed - want to repeal this tax. Said Formicola, "The average person is just concerned that their children get what they deserve. I think Trump's message [on the estate tax] resonates better with seniors."
Income Tax. There may be good news ahead for many seniors on this front. Said Michael Foguth of the Foguth Financial Group in Michigan: "Seniors have a great chance to not pay any taxes under Donald Trump. When running, he proposed that a single filer who has an adjusted gross income (AGI) of under $25,000 would pay no taxes. A married couple filling jointly could together have AGI of under $50,000 and pay no taxes. This means seniors really need to focus on tax free income during their retirement. It does not mean seniors will have to have income below $25,000 or $50,000, it means their taxable income must be below that number. If seniors focus on tax free money, they should see an increase of income that they'll be able to keep in their pockets."
Social Security. A pocktbook issue for most seniors - about one in three say it's their primary source of income - Social Security may not be touched by a Trump presidency. "We're gonna save your Social Security without making any cuts. Mark my words," Trump said that to an audience in Georgia in February.