I think you guys are missing the point all together. There would be a huge advantage to being paid an hourly rate for duty.

First off kudos to the OP for discussing a topic that needs serious addressing.

Think of how it would be if we were paid hourly based on duty. Most jobs are gauged on a yearly salary based on a 40hr work week times 52 weeks per year. If it was known you pretty much spend the first 5-6 years of your job at $15-20 per hour do you think as many people would apply for the job? Do you think the student loan companies would let you borrow as much? $20 per duty hour is pretty much what you are paid as a regional FO. This looks a lot less appealing than $46 per flight hour.

Transparency guys! This is the key. Deception is management's best friend. Expose them and you have a fair game.