To amend the Internal Revenue Code of 1986 to provide that all individuals and corporations shall pay a minimum tax of not less than 10 percent of economic income.

Amends the Internal Revenue Code to impose a ten percent minimum income tax on individual economic income that exceeds the following exemption amounts: (1) $50,000 for joint returns; (2) $40,000 for single returns; and (3) $25,000 for married individuals filing separate returns. Defines "economic income" as income received or accrued (including tax-exempt interest), minus expenses paid or incurred in the production of the income and a reasonable depreciation allowance.

Imposes a corresponding ten percent minimum tax on net corporate income in excess of $50,000.