And then what? Pressed again, delete more text, until there is no more?
Apart from that, this is called "interactive" and would require to export the document to a specific format. If you wanted to export to SWF, you could make a text frame with the text you want to hide (not delete), then assign an animation and run that animation when pressing the button. Features are limited here. ID is more of a layout tool.
You can make a button that hides visible pre-existing elements, and/or shows hidden pre-existing elements.
You can also make a button that clears (all) user input from a form field.
Aside from that, your question is too vague to answer definitively.
@Doc No after it deletes the type that is all it would do. I was just seeing if it was possible. Right now i do it in Excel but It would be great if i could do it all from one program.
ID can not delete text in a text frame in connection with a press of a button. You could only hide the text (frame). But when using scripts, much more is possible, whereas I don't the option to connect a script with a button press...