Estate Planning

NC Had 7th Highest Unemployment in U.S. in December

By Gregory Herman-Giddens

I had no idea North Carolina was so bad off until I saw the statistics put out by the Bureau of Labor Standards.  Our unemployment rate in December 2008 was 8.7%, which puts us on top of all states but Michigan (the highest at 10.6%), Rhode Island, California, Nevada, Oregon, and Washington D.C.  The state with the lowest rate was Wyoming at 3.4%.

While estate planning is extremely important, I can see how it takes a back seat for folks busy looking for work and trying to put food on the table and gas in the car.

I'm quite skeptical of the stimulus package and the benefits it will supposedly bring to our economy.  it does very little to encourage upper middle class professionals and business owners (who are not eligible for most of the tax breaks) to spend money personally and in their businesses.  For example, a substantial tax credit for hiring new employees would encourage me to hire someone, thereby creating a new job.  But what do I know - I'm not a politician or an economist, just a business owner who pays a lot of tax each year.

Full post as published by North Carolina Estate Planning Blog on February 12, 2009 (boomark / email).