Special By By Carol Forsloff Feb 19, 2010 in Politics Michael Steele says $1 million isn't much money for Republicans. But is that statement true for most middle-class Americans? While Joe the Plumber has second thoughts about his support of John McCain, Scott Lumry is concerned about the Republican's lack of understanding about state of the middle class. Scott Lumry, age 52, is a businessman/carpenter in Natchitoches, Louisiana. He owns a modest bed and breakfast and is a construction worker who works as an independent contractor, helping to renovate homes in the region around Natchitoches. He said to Digital Journal in response to Steel's remarks, "I have calculated it would take me 502 years to save $1 million at the current rate of discretionary income I have after expenses." These are hard times for Lumry, as he mentioned they are for other business owners in Natchitoches. He said, "Hard times are coming to this town. Last year I made probably about $8000, and my expenses consisted of utilities specifically for that portion of the income for bed and breafast guests and my work as a contract laborer, renovating houses. My bottom line last year was $2000. I am able to eat because I can write off meals against the bed and breakfast costs, since I help cook and serve the meals and interact with guests. I have looked at the want ads for jobs and see there aren't any. I can't teach part-time at the University anymore because their budget has been cut by 40%. They have had to significantly reduce staff. I don't know what I would do without a partner." Lumry's significant other is nearly 80 and retired with a modest income. Lumry went on to explain how he is seeing signs of hard times in Natchitoches. For awhile, people thought they would escape the worst of the recession because the town has a diversified economy with tourism, several large businesses and tourism, according to Lumry. Natchitoches is the town where the movie "Steel Magnolias" was filmed, and folks come from all over the country to visit the town and the beautiful homes along the river and on the streets of Natchitoches that represent scenes in the film. In addition, Natchitoches is a historic town, as it is the oldest town in the Louisiana Purchase. So people interested in history visit Natchitoches for research and to see the great historical artifacts and architecture that can be found in the area. Natchitoches is also a town known the world over for its Christmas lights, so the entire month of December, and part of November and January, are devoted to Christmas offerings. Add to this the fact Natchitoches is called by some folks "Little New Orleans" because of its Creole people, its river-lake that runs through town, and its great food and jazz, and you have a place with lots of appeal. But with all of that, there are signs of trouble ahead, according to Lumry, who knows about that because of his dedicated interest in tourism and the economy, having been on a number of boards and committees in Natchitoches over the ten years he has lived in the town. According to Lumry, the signs of economic difficulty in Natchitoches started in 2009. Lumry noticed "guests were dropping off and tourism was down." He also interacts with landlords who are renovating properties and hears from tenants who are concerned about jobs. People, he said, are worried. Lumry struggles these days to stay ahead and reminds folks who think $1 million isn't a lot of money, that ordinary Americans don't have that type of income or savings and with the present problems may never be able to save even close to that amount. As a diabetic who doesn't qualify for Medicare since he is only 52 years of age, Lumry has to pay the costs of insulin out of his pocket, which is $126/month at the cheapest pharmacy in Natchitoches. He faces additional costs of doctor visits and other supplementary aids. Furthermore he has construction overhead, taxes, vehicle expenses, cost of tools and miscellaneous other costs that leave him with virtually nothing at the end of the year. Digital Journal asked Lumry what he would do if the government gave 3% like Dr. Tom Loudatt, an economist interviewed by Digital Journal earlier this month had advised. Lumry is one of those middle Americans who declares he is worried about the future and reminds people he is one among many with similar problems, if not far worse right now. He laughs at the idea that $1 million isn't much money at the end of the interview and said, " $1 million may not be a lot for some people but not for guys like me and middle class business owners with expenses." If things economically get much worse, as Loudatt declared they might become, what will happen to Lumry and the ordinary folks in small towns across the country who have little money in reserve for hard times, especially if those hard times come sooner than government leaders are willing to admit. It's certainly true, according to facts on CNN and the interview with Lumry, that $1 million is a great deal of money for the average American these days. Steele, the Republican Party Chairman, was quoted by CBS news declaring recently that $1 million wasn't much money to Republicans. Steele made the comment during a debate in Little Rock with Democrat Harold Ford Jr., who is potentially a Senate candidate for New York. At the time, Steele and Ford were talking about President Obama's plan to let tax cuts lapse for families making more than $250,000. But for folks like middle class Scott Lumry in Natchitoches, Louisiana $1 million is is a lot of money.While Joe the Plumber has second thoughts about his support of John McCain, Scott Lumry is concerned about the Republican's lack of understanding about state of the middle class. Scott Lumry, age 52, is a businessman/carpenter in Natchitoches, Louisiana. He owns a modest bed and breakfast and is a construction worker who works as an independent contractor, helping to renovate homes in the region around Natchitoches. He said to Digital Journal in response to Steel's remarks, "I have calculated it would take me 502 years to save $1 million at the current rate of discretionary income I have after expenses." The facts are , according to CNN Money, that the average 52-year-old man has a net worth of about $98,350. At Lumry's income post expenses his net worth would be under $2000. The total net worth of the average America at age 65 is less than what the level of income Obama wants to tax for a single year. In other words, it takes a lifetime of work for most Americans to earn $250,000.These are hard times for Lumry, as he mentioned they are for other business owners in Natchitoches. He said, "Hard times are coming to this town. Last year I made probably about $8000, and my expenses consisted of utilities specifically for that portion of the income for bed and breafast guests and my work as a contract laborer, renovating houses. My bottom line last year was $2000. I am able to eat because I can write off meals against the bed and breakfast costs, since I help cook and serve the meals and interact with guests. I have looked at the want ads for jobs and see there aren't any. I can't teach part-time at the University anymore because their budget has been cut by 40%. They have had to significantly reduce staff. I don't know what I would do without a partner." Lumry's significant other is nearly 80 and retired with a modest income.Lumry went on to explain how he is seeing signs of hard times in Natchitoches. For awhile, people thought they would escape the worst of the recession because the town has a diversified economy with tourism, several large businesses and tourism, according to Lumry. Natchitoches is the town where the movie "Steel Magnolias" was filmed, and folks come from all over the country to visit the town and the beautiful homes along the river and on the streets of Natchitoches that represent scenes in the film. In addition, Natchitoches is a historic town, as it is the oldest town in the Louisiana Purchase. So people interested in history visit Natchitoches for research and to see the great historical artifacts and architecture that can be found in the area. Natchitoches is also a town known the world over for its Christmas lights, so the entire month of December, and part of November and January, are devoted to Christmas offerings. Add to this the fact Natchitoches is called by some folks "Little New Orleans" because of its Creole people, its river-lake that runs through town, and its great food and jazz, and you have a place with lots of appeal. But with all of that, there are signs of trouble ahead, according to Lumry, who knows about that because of his dedicated interest in tourism and the economy, having been on a number of boards and committees in Natchitoches over the ten years he has lived in the town.According to Lumry, the signs of economic difficulty in Natchitoches started in 2009. Lumry noticed "guests were dropping off and tourism was down." He also interacts with landlords who are renovating properties and hears from tenants who are concerned about jobs. People, he said, are worried.Lumry struggles these days to stay ahead and reminds folks who think $1 million isn't a lot of money, that ordinary Americans don't have that type of income or savings and with the present problems may never be able to save even close to that amount. As a diabetic who doesn't qualify for Medicare since he is only 52 years of age, Lumry has to pay the costs of insulin out of his pocket, which is $126/month at the cheapest pharmacy in Natchitoches. He faces additional costs of doctor visits and other supplementary aids. Furthermore he has construction overhead, taxes, vehicle expenses, cost of tools and miscellaneous other costs that leave him with virtually nothing at the end of the year.Digital Journal asked Lumry what he would do if the government gave 3% like Dr. Tom Loudatt, an economist interviewed by Digital Journal earlier this month had advised. headed for trouble . During a follow-up interview, Loudatt recommended everyone be given 3% interest , which would allow ordinary people like Lumry to survive. Lumry agreed it would help a great deal. He said, "This is what I would do with 3% interest. I would buy more tools I need and things for the van I use to drive to jobs. I would use my credit cards more because I wouldn't be afraid of the interest being so high that I couldn't pay them off. I would buy more and save some. It would help me a lot."Lumry is one of those middle Americans who declares he is worried about the future and reminds people he is one among many with similar problems, if not far worse right now. He laughs at the idea that $1 million isn't much money at the end of the interview and said, " $1 million may not be a lot for some people but not for guys like me and middle class business owners with expenses."If things economically get much worse, as Loudatt declared they might become, what will happen to Lumry and the ordinary folks in small towns across the country who have little money in reserve for hard times, especially if those hard times come sooner than government leaders are willing to admit. It's certainly true, according to facts on CNN and the interview with Lumry, that $1 million is a great deal of money for the average American these days. More about Michael steele, Economic problems, Tax problems More news from michael steele economic problems tax problems