[sokoloff]

That's interesting. In essence (assuming no tax law changes), you claim 20% of your income for the current year over each of the next 5 years for tax purposes. Has very nice properties for initial wage earners as you say.

Downsides: results in a 3x income tax charge if an income earner dies suddenly (assuming you want to settle their estate in less than 5+ years). Acts as a loan from the feds to the taxpayer, resulting in income taxes due after you stop working (perhaps you became disabled or got fired [or die, as above]), and results in deferral of income tax receipts to the government during the transition.

Overall, I really like it.