Wealth taxes are actually just as old as income taxes, predating even Hammurabi. To a degree, the two are highly correlated. For example, a flat property tax on a farm is just a wealth tax while a tax on the farm's crop would be an income tax.
One of the fundamental principles in taxation is that each person should pay in proportion to their ability. The ability can be interpreted to be proportional to their income, profit (income with deductions), or wealth, which leads to different tax schemes. It just so happens that in this century, much of corporate tax is based on profit and much of personal tax is based on income.
I am not quite sure where you are trying to go with your argument based on executive compensation and why that necessitates an income tax over any other type of tax.
Perhaps, if the concern is the increasing remuneration of corporate executives, it would be worthwhile considering what factors have changed over the last century that may have led to the current situation.
It seems that wealth taxes are a far more sensible kind of taxation. But, strangely, there is little serious discussion of them.
I sometimes wonder what it would look like if there were just two kinds of taxes responsible for most government revenue: a VAT and a wealth tax. The problem seems to be that, psychologically, people would rather be taxed via witholdings.
One of the fundamental principles in taxation is that each person should pay in proportion to their ability. The ability can be interpreted to be proportional to their income, profit (income with deductions), or wealth, which leads to different tax schemes. It just so happens that in this century, much of corporate tax is based on profit and much of personal tax is based on income.
I am not quite sure where you are trying to go with your argument based on executive compensation and why that necessitates an income tax over any other type of tax.
Perhaps, if the concern is the increasing remuneration of corporate executives, it would be worthwhile considering what factors have changed over the last century that may have led to the current situation.