You can't cut the taxes of people who don't pay any (Did I really have to just say that). Apparently I do because the media and every moronic Obama supporter doesn't seem to realize that. Similarly, you're not offering a tax cut if you don't cut the tax rates, which Obama is not doing. All he's doing is offering another rebate which will do nothing to stimulate the economy. The Obamessiah's plan is really the largest welfare check in American history… but who's counting now that the bailout is reaching epic proportions in the trillions of dollars.
What will happen is the government will grow and the economy (and taxpayers) will be no better off. Obama is doing a great job paving the way to socialism and government control of more industries however. His dire predictions of disaster, despite that the stock market seems to have bottomed out, will enable him to push forward his statist agenda in cooperation with House and Senate Democrats.
In the meantime, the GOP remains mired in introspection and self flagellation over the past 8 years and dozens of missed opportunities.