This may be early, because it's certainly gonna look different, still, I've got to say I don't hate it, but I've got questions, and I do hate one piece of it:
First, the piece I hate: eliminating taxes paid as a deduction. If you want to get rid of an unnecessary deduction, get rid of the mortgage interest deduction. All that does is make residential real estate more expensive! And help make banks money. If you live overseas, currently you've got pay US taxes, but you get to deduct taxes you paid as a credit, so you only pay US taxes if they are higher than where you are. It gets the folks in Bermuda hard, but not the people in London, who are already paying lots of taxes. This will make it nearly impossible to live overseas in a civilized country.
(To say nothing of what it will do to those living in high tax cities and states.)
I also wonder if you divorce the corporate tax rate significantly from the personal tax rate, which is what appears to be happening, how do you prevent owners of closely held corporations from using their corporation as a tax shelter? It's the first thing that popped into my head.
But there's a lot of good in there too, though the details will be important.