How is this any different than putting (after-tax) money into a regular bank account, then having that money taxed as income — again — when we withdraw it?
(And why would I expect Obama to possess a lick of economic sense, much less any concern for the middle class?)
For starters, the interest earned in "regular" bank accounts is minimal, even is you stash away your after-tax savings in longer-term CDs.
Obama wants to punish those who are responsible savers, and might actually earn a little more money by investing in the stock market.