But in details you seem to be wrong. Bankruptcy is checked at the end of the turn when you collect income and pay costs. So merely starting at 0 income would not make you bankrupt. Ending first round on 0 income would. If that was correct in the first place - but as we know, it is not.
Good point! But yes, the point remains that 0 income of course does not bankrupt you, whether at the start of a turn or at the end of a turn or anytime else.
BTW: The rule text in my Eagle Games edition rulebook seem very clear about this in "VII. Pay Expenses": "If this causes a player to have less than $0 income, they are eliminated"... There's no plausible way to interpret that to mean that 0 income eliminates you.