paying taxes

I think I will be classified as a pro due to how much I have made even though I am still a student/only 19/etc.

i that if I earned 400,000$ by the end of '06 I would owe approx 175,000$ in taxes (fed, state, SS, medicade) which seems redic!

he did tell me i could put some $ in a SEP IRA which would remain untouchable. btw, what kind of interest do you earn on that? i'm assuming it's better than what the bank normally pays for accounts/CDs/etc.