Just like your boss gets to decide how much the company pays you, you would get to vote for any politician's salary whose jurisdiction included you. How this would work is you supply a number you'd want America to pay this politician under the directive to ignore any promises that politician made for the future and only focus on what his history has been. There would be a daily rolling average to decide each day's pay for this politician and each voter can always submit a new vote that would go to decide the rolling average for that politicians pay. If America didn't pay a politician enough, he can decide to quit, in which case someone willing to work for less and / or supply more utility to his jurisdiction can take over. The idea is that America would be the boss of its government, not he other way around.
Politicians are already pandering to people enough as it is. They should be focused on what is best for the economy and the country, not trying to make every Joe Blow like them. We already know that every Democrat is going to suggest $0.00 for every Republican congressman and every Republican is going to suggest $0.00 for Democrat congressman. Now, if it is for the pay for all politicians equally, then what we risk is making it not a livable wage (see Congress' current approval rating) and so only those that have other income sources (i.E. Rich people) would be able to hold the seat. That would only further the gap between everyday people and politicians.
A better idea would be to tie their wages through a formula to important things, such as the economy (GDP and unemployment), the deficit (not the national debt, but the annual deficit), and approval ratings. This way, they actually have a financial interest in improving the country as a whole, not just for their constituents.