It is interesting that the discredited US Republicans and Australia Liberals are singing from the same sheet music. Obama and Rudd’s stimulus packages are too large and should use tax cuts as their main weapon.
As John Amato argues at the Huffington Post:
Obama was elected to bring change to the economy, not to debate the merits of tax cuts all over again. We had that discussion for 18 months and Obama won. Tax cuts lost. Why is the media ignoring that fact?
Why aren’t there hundreds of economists on my TV explaining the stimulus package?
Too large. Should be replaced by tax cuts. This mantra echoes in Australian conservative rhetoric:
Defying the widespread support for the package from economists and business groups, Coalition MPs met early yesterday and backed Mr Turnbull’s argument that, despite the political risk, the package was too big and risked passing massive debts to future taxpayers.
Instead, he proposed a smaller package of up to $20billion based on bringing forward tax cuts already planned for July this year and next year.
Battle lines drawn on $42bn plan
It seems that John Howard was not the last to take his lead from Republican politicians.