I doubt that, CC! Though maybe investors could give themselves a "contribution" holiday if stocks really did well, and divert spending to consumption, thereby boosting the economy. But if stocks did soar, the government would eventually "claw back" OAS benefits for RRSPs or RRIFs that grew too large. That wouldn't happen for a TFSA of course.
But going back to "Guru's" $235,000 figure of TFSA room for a 65 year old retroactive to age 18, while it may seem like a big number it really isn't. Remember this is all about fair and equal tax treatment of Defined Benefit plans for DC plans and RRSPs. Arguably the average government worker inflation-indexed DB plan that is in effect backed by all us taxpayers is worth at least $1 million if that's the amount of capital required to generate a $50,000 per annum pension (figuring a 5% return from bonds or a bond-heavy balanced portfolio). Really top-level mandarins hauling down a $100,000 pension have the equivalent of $2 million in capital to generate such a pension.
Seen thus, $235,000 for retroactive TFSA contribution room doesn't seem so out of line, does it? Remember, there are people out there with $1 million RRSPs that were wacked down to $600,000. So even the retroactive room would not be making them whole on tax-sheltered room. And remember too no one is saying the government is being asked to make up the actual losses. No, it's still up to the investor to come up with the money, which again is after-income-tax money.