The discussion must center around improving safety, not creating barriers to entry, therefore raising compensation.

Just b/c the Colgan FO had the requisite hours to apply for an ATP doesn't nullify the premise that requiring an ATP for all pilots flying FAR 121 would improve safety.

I'm with 'Salty' - after a certain amount of experience, a well-trained pilot is more beneficial to promoting safety than a pilot with lots of experience, but not relevant experience to the operation they are assigned to. And I'd say the minimum experience level needs to be raised. I go with an ATP b/c it's just that, an "Airline Transport Pilot" license. To be an Airline Transport Pilot, you should have to be licensed as such.