>"It might not be a popular opinion, but perhaps we should double the wages of US Representatives"
How about this: we can have some criteria like state of health, education, buying ability etc and call it well being index. If it increases politicians get a bonus. If it decreases they pay fine.
On what time scale? Government policies have effects that exceed term limits. If you want to reduce government to the same myopic view of CEOs, i.e. politicians that optimize for the next quarter only, this is how you would achieve it.
How about this: we can have some criteria like state of health, education, buying ability etc and call it well being index. If it increases politicians get a bonus. If it decreases they pay fine.