The problem is that we've continued to lower taxes through multiple stimulus packages and the job growth just isn't there. I supported when both Bush and Obama attempted to cure our economic issues with lower tax rates and I just don't see them as working in any meaningful way with unemployment hovering around ten percent.
The people who have benefited most from the stimulus simply haven't put the money back into the economy. If they refuse to put the money back into the economy, then we might as well get it out of them by repealing the tax cuts.
There was only one stimulus, and it wasn't big enough. Cutting taxes is not nearly sufficient stimulus. It has to be accompanied by extra spending--and lots of it.
The stimulus actually did improve things. If you look at the GDP numbers, things started to slide again once the stimulus ran out, and it could've done more good had it been a lot bigger.
The lesson is that we need more stimulus, not less, and tax cuts are of very little value in an economy like this.