NC Had 7th Highest Unemployment in U.S. in December
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.
Don't get me wrong, tax breaks are great, and I'm all for them. However, you are probably unlikely to hire someone (even with the tax break) if you don't have additional work for them to do because of the bad economy. Putting a little bit of money into a lot of pockets will help to spur spending on consumer goods, which will prop up (i.e. stimulate) the economy as a whole.