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The vaccinated may get mild or asymptomatic infection but are largely spared from hospitalization and death. This figure shows you the difference in infection risk among the vaccinated (green line) vs. unvaccinated (blue line); among 18-49 year olds, 50-64 year olds, and older than 65 year olds. The difference is striking:

Graphics source: CDC, ACIP Slides, Kathleen Dooling, MD, MPH, August 30, 2021