OK, I'm not being a grammar nazi. But the term "flat tax" is more commonly used to describe a single rate system. The term "progressive" is exactly what we have now, a tax percentage that increase a specific levels.
Based on your proposed tax rates, our debt would double immediately. So, the OP would not be satisfied. Even if we kept the current rates, and eliminated all deductions, you'd see a market crash since almost the entire middle class has a mortgage.