Actually, pay and teaching should be much more strongly linked. Teaching is incredibly undervalued within most universities, because teaching doesn’t bring in money or what passes for stature.
The way to do that is to stop giving government "research grants" for stupid stuff.
You’re kidding right? I work for a major University but I work on the hospital side in Finance. I see what they are paid, their perks, incentives, etc. Most of them make 250-400K a year for teaching a couple of classes. They are also Union.