I Feel All Smart

Kudlow seems to share the stimulus skepticism expressed here and here. Highlighting an article by Arthur Laffer he writes:

And might I add that this so-called rebate stimulus is having no impact at all on the stock market. This is for the very simple reason that it contains no permanent economic growth effect.

Update: Mr. W. points out the rebate is tied to our 2007 tax returns, which are due in April. Anyone know what the economy's going to be like in April? Price of crude? Stock Market? Anybody?