Panel Backs Simplified Income Tax System

Panel Backs Simplified Income Tax System - Yahoo! News: "Most deductions, credits and other tax breaks would be eliminated along with much of the paperwork and equations that baffle taxpayers under a drastically simplified income tax proposed by a presidential commission on Tuesday."

I don't know why the panel seems to have dismissed both a national sales tax (my personal favorite), and the fair tax plan (a close second in my opinion).