We're not opposed to the TFSA at a $5,500 ceiling. Where our concern comes up is that when the ceiling is then raised, who gets the benefit?
According to your estimates, the wealthiest 20% of Canadians will get almost 10 times the benefit of the middle 20%—the middle class—and the top 20% by wealth will get nearly twice as much as the bottom 80% combined. The top 20% of income earners will get nearly 16 times more benefit from this one move than the bottom 20%.
On an equity level, is the top 20% in such trouble that they need initiatives that so overwhelmingly favour their bottom line?