@mjkirk12: Forget the paper tape reader - who gets a private office with a door these days!
They don't let me out very often :-)
Remember that I'm theoretically working from a home office -- it's my choice to actually rent a real office (it makes what I do seem lime a real job LOL) -- I have one room in a really large (and not hugely populated) building owned by a company I know -- they are kind enough to give me a really good deal (and they threw in the office door)
The CR and LF were simply following the practice of manual typewriters. They usually had a big paddle connected to the carriage. At the end of a line you reached up and yanked the paddle left which by default would both return the carriage and rotate the platten to the next line position.
However, the paddle was actually a two-stage mechanism. If you pulled it gently you released the carriage to slide without advancing the platten and this was something you would do for example when correcting or sometimes filling out a form. There was not always a backspace key, since that was mechanically more complicated than using the paddle to free the carriage.
You could also rotate the platten independently by just gripping a wheel-shaped knob at the end of the carriage and turning it, which was typically set to click in half-line steps (and you could also adjust the return paddle to cause advance by 1, 1.5, or 2 steps).
So, the ASCII system was inspired by a litteral match to the typewriter mechanism which it was originally designed to drive. That is also where the BEL came from: manual typewriters had a bell you could set to warn you when you neared the right margin so you would think about how to choose the last word on the line or whether to break a word. The teletype repurposed this to alert operators to ends of messages.
Depending on the system and the software, sometimes you could specify how many NUL characters to send with a CR, to "time-pad" the output and allow the carriage to return fully to the left side. That is why sometimes, in movies or videos and such, or if you remember, the teletype would make a duh-duh-duh-duh type sound when it was "typing" and the carriage was at the left side. This was the "wait timing with NUL characters" that was common. How it actually sounded and looked depended on how far across the carriage it had typed the line it was on, which was directly proportional to the amount of time to return the carriage to the left. Shorter lines made the wait NULs sound and look different.
As a student at Roxbury Latin School, I also stored my first computer programs on paper tapes. They ran on the Harvard University SDS timeshare computer through a dial-up line. It seems that reading old paper tapes would be a great opportunity for a SmartPhone APP. The holes are very large so it ought to be possible to pull the paper tape across a black background and make an iPhone movie of the passing tape. The iPhone could be fixed about three inches above the tape and oriented along the long axis for a high resolution read. The camera has sufficient resolution to read at a much greater distance. Guides could keep the tape aligned in the center of the image. The motion could easily be tracked (no need for accurate speed control, just pull the tape) and each row of dots could be decoded. As I recall, the symbology was simple ASCII so the results could be directly reported in familiar text. After the decode, if the data were garbled, an option could be included to flip the orientation and / or direction of the data since the old tapes might not necessarily get fed rightside up [mirror image read reversing the bit sequence] or in start to end sequence [they might be reading end to start reversing the character sequence].