No, it's not good, it's too complex.
Here's a simple system that would work. Income is income no matter where it comes from and thus should be subject to tax. Here's an easy system that would work. First each person files their own tax form.
The first $10,000 would be taxed at an Ultra Low Tax Rate (ULTR) 0.5 percent then from 10,000 to 75,000 would be taxed at 15 percent. then any amount about that would be taxed at 30 percent.
Children would allow you to increase the amount money taxed at the ULTR so with 2 children and one adult the first 30,000 would be taxed at 0.5 percents, also a person who has 0 income would be able to assign their 10,000 to another person.
So let's say we have three families of four, the first family makes a total 40,000 the second makes 75,000 the third 100,000 a year.
Under this plan the first family would pay 200 in federal tax. The second family would pay a total of 2,450 the third would pay a total 12,950. The whole tax form would be about 10 lines long.
Now you can play with the percentages, but under this plan everyone pays some tax, after all everyone get some benefit from the government. So it's simple, easy and would have no chance of passing congress.
edited would pay 0 in federal federal to would pay 0 in federal tax