Not a bad show, but it is definitely not for young kids! Only kids over the age of 14 should be allowed to watch for sexual references and other thematic elements.
It is based off the Heath Ledger movie with the same name, which is an adaptation of shakespeare's Taming of the Shrew.
It is humorous, and can be used to teach teens about how to make good/bad decisions about dating/parties/drinking, etc.
My family with a 16 year old boy and 14 year old girl watched this show regularly. It was a little edgy sometimes, but we decided that it would provide a positive opportunity to discuss the bad choices that some characters were making. But the episode we just watched actually had one of the main characters going to a clinic with her soon to be partner to test for STDs before they had sex. They discussed the number of partners they had already had, and made it seem like the more the better. While they end up arguing just before consummating the relationship, it was still shocking to see them planning this up to the point of laying in the back of a van half dressed. In the same episode, they have a boy announce that he is gay.