Well, kicks (or any other instrument) should not be clipping in the actual track. In other words, the channel should not be clipping. In general you should be tracking instruments so they peak around -18 to -12dBFS... that's VERY far away from clipping.
That said, as a process, yes, I sometimes will clip kicks for a certain sound. How I do this depends on whether I'm producing or mixing.
Sometimes slightly clipping a kick (especially 909s) sounds really great on
my Akai S2800. So if I'm actually making the beat, I might try that.
At mixdown, I take a different approach when I want to clip a kick obviously. I will generally run it OTB and into a piece of gear and clip it there (perhaps a channel on a mixer, or with a preamp) and then pad it back down. It's important to maintain proper gain structure, even if you intentionally clip something.
It's ironic this thread came up. It's not THAT often that I intentionally clip a kick drum. But today I actually had to do just that on a record I was mixing for someone. I tried a few different OTB things, but it turned out that just a really poorly set up distortion plug in (set up essentially to clip rather than provide smooth distortion) did the trick. Ya gotta be flexible sometimes... LOL