I think this is a big part of it. I think of it as a signalling tax on the young extracted by the old. "Ah ya think you're smart eh? You want a job eh? Promise

I think this is a big part of it. I think of it as a signalling tax on the young extracted by the old. "Ah ya think you're smart eh? You want a job eh? Promise me $100k+ your future earnings and we'll talk".