I agree...in theory. But the reality is those things already exist. It is generally the wealthy who take office for a number of reasons.

a) You have to be independently wealthy in order to take the time to campaign. Johnny punch-clock working 8 hours a day isn't going to have the financial means to take the time to win and election.

b) Independently wealthy people are usually the ones with access to investors/contacts who can fund their campaign. and

c) Winning an election usually requires some sort of name recognition in your community/district, etc... So it's likely a business owner, a local city council person, etc... someone with existing ties in the constituency they are seeking to represent.

It's always going to be the wealthy (or at least moderately well off) that get into power regardless of how much they are paid. Because it takes wealth to even get there in the first place.