I also dont feel sympathy for how the medical education gets to have people hostage, as a reason to "not lower physician salaries". Its like saying that a slaver paid for his slaves, how can you take them away from him! It cost so much!
In any case, if salaries went down, less doctors would go to college, and colleges will either lower students or lower prices. Easily make-upable if you allow reasonable residencies for foreign doctors. The US could absorb an infinite amount from abroad where the cost of education is not irrational.
In argentina, a cardiologist might make 4000 U$S a month. If he could, he would jump ship to practice in the US immediately.
You could also compare the opposite, if you have 250k at 19 is it a good investment to go to medical school or take a less lucrative job and just invest the 250k in index funds, I'm guessing medical school still comes out on top, maybe after 20 years.
2. Because when they make $300k/yr they feel entitled to spend $250/yr or more