The Hoover wing of the Republican Party is not only alive and well, it's currently in charge of the GOP:

The [Obama economic stimulus] plans brought a quick retort from House Republican Leader John Boehner of Ohio. He said lawmakers "should start listening to the American people, who do not believe increasing government spending is the best way to put our economy back on track." He proposed eliminating the capital gains tax, which is currently 15%, as well as other tax cuts.