I take issue with your Sept. 15 article, "Expert Sees Tax Reform in Good Light," as (Anthony Downs, senior fellow at the Brookings Institution) implies tax reform acceptability in ending the deductibility of second-home interest and real estate tax. Please consider:
The reform proposal is economically unsound because:
--The second-home industry is an important segment of the economy, supporting over 2.4 million construction and service jobs, as well as many local economies.
--323,000 jobs will be lost, with a devastating impact on the isolated economies that depend on the second-home industry and it imposes an emotional and financial hardship on the people who live there. These areas have only two basic industries: construction and tourism . . . everything else services these two groups.
The reform proposal is unfair because:
--The impact will be borne largely by middle-class America . . . not by the wealthy as is often assumed. The median family income of second-home owners is $45,000 to $55,000. The median value of second homes in America is $68,000.