Tax-Free Savings Account A Good Thing

Hello. Yesterday the Conservatives released their federal budget. The main (and I must say the only) thing I read was the introduction of a Tax-Free Savings Account (TSFA). I think it's a good thing.
While your money is still taxed when it gets put into the account, it's allowed to grow tax-free. In the example I saw in the Toronto Star, this means $200/month for 20 years at 5.5% would generate a tax saving of over $11,000 (the $48,000 put in would generate $39,525 in investment income, and all of it would be sheltered, instead of only $28,480 in a regular account).
Talk about your no-brainers! This represents an almost 28% savings on your money! Imagine what the numbers will be if you can put in the $5,000 a year! And you can catch up if you're short in a year! And you can withdraw money, and replace it, and it won't count against the $5,000!
To me, paying less tax is the best investment a person can make. What other investment can you be guaranteed of getting a 28% return? None come to mind.
I'm ready to pile it in. Bring it on!

Regards,
Steve