The topic of our study is youth employment, yet at the same time retirement security was brought up by a number of people on the panel today. I can tell you that I think the biggest shock that a young person has when they get their first job and they get their first paycheque is to see all the deductions that are taken out of their paycheque. Those who are advocating for enhanced CPP are advocating for even more deductions to come from those paycheques.
The young people who I know, their priority is to save money for a down payment on a house. It's not to put more money into a pension plan that they're going to see 45 years down the road. So I just don't understand how people can justify increasing CPP, payroll tax, whatever you want to call it, for young people, because that's who we're really talking about today. We're talking about young people.
When we talk about retirement security, probably the biggest item on retirement security is home equity, and we haven't talked about that. Young people want to save for a down payment to buy a house, and the equity in that house will eventually become probably the biggest retirement security they have of all. In addition to that, we have the OAS, GIS, CPP, RRSP, TFSA, and PRPP. We have to look at the whole package and not just look at CPP and say, let's increase those deductions on young people. I don't think that's fair.
Mr. Moist, you seem to be thinking otherwise. What is your opinion?