Tax reform plans to simplify, encourage savings, vary greatly.(Originated from Knight-Ridder Newspapers)

Knight Ridder/Tribune News Service | June 8, 1995| | Copyright

WASHINGTON _ For anyone who's spent sleepless nights with a pot of coffee and a calculator, financial records strewn on the kitchen table, cryptic tax manuals dogeared and underlined, the new proposals to abolish or radically simplify the income tax have got to seem pretty appealing.

Instead of pulling their hair out over Form 1040, taxpayers can join the campaign by House Ways and Means Committee Chairman Bill Archer, R-Texas, to ``pull the current income tax code out by its roots and throw it away so it can never grow back.''

The current system is shot through ...

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