Not a bad idea. I'm racking in a little under 2k per turn with my current game, though I forget the date. Bankruptcy used to be a big problem, but now I don't think I could if I tried. And the weird thing is, I don't know what I'm doing differently...
Oh yes! Forget the military techs to begin with, just focus on the resource ones. If you're ever feeling short, work on morale and crank up the taxes. I'm at 80% odd taxation with 75% morale.
As for G/N/E... haven't tried Good yet. Neutral is quite nice due to free terraforming without needing all the techs, but an orbital terraformer easily solves that. Evil is v-e-r-y nice, though. Never mind the psionic weapons, let's go through it:
1. Free starbase upgrades.
2. No Mercy Invasion centre: even when you're racking in the cash, free tactics are nice.
3. Plus just the general nice feeling when everyone is smarming up to you... knowing that with a click of the mouse you can set their destruction under way. Unstoppably.