Public service ought to be a responsibility more than a privilege. Personal profit shouldn't be motivation for candidates seeking election, nor should we pay elected officials beyond reimbursement for services rendered.
Many elected officials currently receive pensions at or above $60k/year after leaving office. This comes after years of service receiving salaries, expense accounts, and other benefits that, in the eyes of an average American, may seem luxurious.
In a time our country is in such a financial deficit, I propose we pay our elected government officials more in line with our middle-class. Salaries of no more than twice the median American salary and no pension seem reasonable. The saved funds can be used towards our deficit.
One should not retire on taxpayer money.