While this sounds good on the surface, the problem is that requiring legislators to live with the same financial difficulties most of us face would lead to sharp increases in direct bribery and overt corruption. As bad as it is anyway that effectively unlimited campaign/PAC contributions can be used to corrupt them, if their personal finances were significantly more trying, it would be much worse, especially given that most legislators have more personal expenses than the average person, including maintaining resdences in both DC and their home state/district. The much better (but also much, much more difficult) solution would be to raise the incomes of most Americans rather than to reduce the income of the legislators.