Elimination of interest deduction. Ouch!!

[Rich Weese]

There was a lot of talk on finance programs today about obama going for an elimination of the interest deduction. What will this do to owner occupied homeowners? What will it do to investors?
My input is that home owners will handle ity ok. I'm worried about the investors. It would most likely move every investor into a higher bracket. Those that have lots of properties would really take a hit. I don't know at that point if it would make sense to hold or sell. What say you?
It has always been a significant part of the return and benefit of owning. I assume there would be a transfer of equities from the U.S to other countries that may show a better return, if there are any. Canada, I believe, doesn't have an interest deduction currently either. Maybe that is why their "tax freedom day" is consistently later than us. Rich