Yes! It should be called a TAX FREE INVESTMENT ACCOUNT. I had a friend ask me once why I invest in a tax free savings account when there is already no taxation on savings.....seriously. 

When I try to talk to people about different investment options within a TFSA their eyes literally gloss over. It's so foreign to them and that's sad because investing is such a simple concept at its basic level. The banking industry creates the illusion of the investing system being this horribly complex thing in order to scare you into using their financial advisors or to buy their high fee "all packaged in a nice bow" products. We need to talk more about money and educate kids from a young age. For