More than half of the politicians in DC are millionaires, so how might that play into the "incompetents" factor?
In several ways. First many of them are born in third base, like Mitt Romney and Al Gore. Second, this only supports my point. Competent poor people cannot afford to forego the income, so only milionaires end up being representatives of the "people".
Once they are there, they all learn pretty quickly how to get money from lobbyists,
This too also supports my comments, Since they are not paid proportionally the must resort to lobbyists to close the gap. Give them a secure source of income and they are much more likely to ignore the lobbyist entreaties.
Seriously, most people reflexively reject high salaries for politicians, without thinking of its implications. Would you suggest your favorite sports team pay substantially less than market rates? then why do you suggest the same for your city/district/state/country?