Who wants to wake up in the morning and think "thank goodness some lawmaker is forcing someone smarter/better than me to live in poverty so I can have this cushy job"?
PG is right that most programmers are not all that bright. This limits the state of the art in our industry far more than most people realize.
[edit]: I can't believe this thread is getting hijacked by people who oppose PG's view on this and are downvoting comments in support of it!