If Doyle McManus wants to support a tax measure that could reduce the deficit, it shouldn't be one that hits middle-income families the most.
Eliminating the mortgage interest deduction would cost the average Californian nearly $4,000 annually, a substantial amount for those who need it the most. In California, 59% of taxpayers who claimed this deduction in 2010 earned less than $100,000 a year, not exactly high income in a state with high home prices.
Eliminating the deduction would mean fewer home sales, not to mention a drop in other purchases that accompany a home sale such as furniture. And since housing is widely regarded as a key economic driver, our country could be driven back to recession.