Anecdotally this hasn't been true for me. I spent my 20s barely getting by. In my 30s and early 40s I've had a series of lucky breaks that have enabled me to move into a much higher paying job resulting in luxuries like home ownership, retirement money etc. and if anything I've become more liberal.
I also don't have or want children so maybe that factors in?
I'm not sure it would cover open source software since it seems to be more concerned with data than the actual code. If that open source software is being used by a company controlled by a foreign adversary then that would probably apply but if it's open source software created by a foreign adversary but being used by a US company I don't think that would.
The actual wording of the bill seems pretty vague so I could be wrong and they might be able to apply it just to software but that would kind of to against the entire option B that they're currently giving ByteDance where they can keep Tik Tok running by selling it to an American company.