wrong
It's just wrong. You give a kid the idea he's learning because he'll receive money. How are you gonna lessen the reward afterwards? And when? I know alot of people at the age of 17 who still don't get it. Are you gonna pay them till they're 21?
As a parent, it's your responsibility you teach your kid that learning is needed. You do have authority over him, he's your kid. If what it takes is psychological means or a beating, then so be it. (though this doesn't justify severely beating your kid!)
This also works in the opposite case though. Be sure to congratulate him on a job well done, he shouldn't get the idea that he isn't appreciated either.
So unless incentive also encompasses these things, I do not agree.
Which is not to say it's never appropriate. Getting him something afterwards as a present because he did well is up to the parent. But it's not something that should be put up as a goal in advance.
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Moderation should be moderately moderated.
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