Madam Speaker, I am afraid I have to say that is chop logic. It is an interesting proposition.
The maximum that a senior can gain from OAS and GIS is about $11,000 a year, which is about $7,000 below the low income cut-off. We do not call it the poverty line because, I think, we are a little timid about calling it the poverty line, but it is.
In terms of those seniors who have investments in these profitable corporations, does the member mean a corporation like Nortel? I can remember a time when Bell stock or Nortel stock meant something, but it certainly does not mean anything now. People have taken a bash from the stock market.
The same thing goes for RRSPs. People were told to save in RRSPs, put money away, and benefit from freedom 55. What has happened to those RRSPs? In the last few years we have seen them decline significantly, to the point where seniors feel duped. They feel duped by the promises.
RRSPs in a 35 to 45 year period are charging 40% for management fees. Imagine that. That is nearly half. People thought they were saving for a secure retirement and they were duped into believing that somehow giving money to big banks, to those profitable corporations, to invest on their behalf would secure their future. They found out differently, and it is to our great shame.