As for the profits vs income question, if income of wage slaves is taxed, income of corps should be also.
Except that you're looking at it backwards. Corporations deduct the cost of wages from their revenues to get their taxable income, the same way they deduct other expenses. That means the labor they have purchased is a deductable item.

If that's the case, then I should be able to deduct from my taxable income the value of the labor I no longer have. Why, that means I have no taxable income! Only businesses should be paying taxes! Which, until they passed a "temporary" income tax to pay for the civil war, is exactly how it worked.