Here's a suggestion to regulate legislator pay (specifically Barney Franks', but aimed at Congress in general).
Sadly, that's not how I'd do it.
I'd make the jobs non-paid except for travel expenses to and from their home district, offer the standard federal per-diem rate when they are actually in Washington (I believe this is $65/day now), and require that they live in government-constructed BOQ-style apartments (which they will receive rent free) while Congress is in session. I would allow each of them a valet and each apartment building would have a cleaning staff (no reason to make them do their own bathrooms, they are after all in Washington on "the people's business"). Congressional staffers would be drawn from a pool and assigned to each 'critter and senileator on a random basis, regardless of any party affiliation (although they would be expected to act in a politically neutral manner and be subject to termination for partisan activities connected to their jobs).
I'd also pass a Constitutional amendment making it a crime for any congresscritter or senileator to accept any gift, fee, emolument, bribe, or other monetary or non-monetary "valuable consideration" while serving his or her term. I'd allow them to receive wages from their day jobs back home. I would permanently disqualify them from lobbying for any purpose, disqualify them from receiving government pensions of any kind other than Social Security, and require that they enroll in a standard group health insurance plan with no frills while in office (unless they can show that they have insurance through their day job back home).
There would be no Congressional travel other than back and forth to their home districts, and that on public transportation (although I would allow them to travel first class if they so chose, but there would be a travel budget and once used up, that's it). No junkets, no special flights on the Gulfstreams or military transports, no bullshit.
There's probably more but I'm tired of typing.
The bottom line is that these fuckers need to be reminded that they work for us. Serving in Washington should be an honor and not a lifetime sinecure. "Politician" should not be a profession, but simply a side activity that one performs for a few years before retiring honorably back to their plow (as it were). Indeed, serving in Washington should be an onerous duty like it was originally -- something that one does for the honor (they call you "Senator" or "Congressman" for the rest of your life, isn't that enough?) and then gets the hell out of there as soon as possible.
Oh, did I mention no air conditioning in the apartments?
Americans are only safe when Congress is not in session. (Although at the moment I'd worry like hell about the president being there without any minders.)
They don't need a valet or cleaning staff.
Well, come on, Dick...we need to throw them a bone now and then. At least the valet will dress them properly and the cleaning staff will see to it that the buildings are actually clean. Congresscritters can be such children at times.
I'm really feelin' this....