How is that functionally different than how tax works now? Ownership gives you two things. It's a right to future profits, and the ability to resell that right

How is that functionally different than how tax works now? Ownership gives you two things. It's a right to future profits, and the ability to resell that right to someone else. Company tax gives the government a percentage of the profit, and capital gains tax gives them a percentage when the shares are sold. The only thing your proposal would do is delay when the government gets it's slice because the company doesn't have to pay a dividend right away.