Some weeks get busy in academia, so
I have to put in some extra time.

Really? Doin what? Surfin the web at HOME, hangin out at the library? (ok, ok just kiddin)
Professor have you been academia a long time? There are millions and millions of low to mid level workers, in the cubicles and offices all over this country that work 60 hour weeks and think NOTHING of it. But let a college professor work 60 hours and he thinks he deserves a medal?
I’ll go on record as saying the 40 hour week guy is the EXCEPTION from bottom level mgrs to the top from big companines to small. In your field the opposite is true.
The only folks workin 40 hours weeks, are hourly workers with union cards.
Lets see, we just ended the month of December, in the world of academia y’all probably had 2-3 weeks off between semesters, maybe more? Plus whatever time ya had off for Thanksgiving, and let us not forget spring break, in a couple of months. Now most small business owners, mgrs etc had what? A weekend and 2 days?
Now ask the tens of millions whose job goes undone if they are NOT there, that take precious little time off, because they know if they do, they will be swamped on their return. When was the last time your boss called you after hours checking on a crucial project? When a professor goes on vacation, he’s not even missed by the campus LOL.
Zeus forbid if someone grabs a profesors parking place, and make him walk an extra .25 mile to the office. LOL.
I’m thinking you might be a little outta touch when you think only a small minority of mgrs in this country work till 10 pm on Thursdays, I’ll say Thursday is NOT the only day they do it.
Look, I don’t have a problem with ANY of that, it is what is. If any here think y’all have a great deal, then I suggest pursuing it as a career choice. I hope ya see some of this is in jest, but there is a truth here. Academia is NOHTING like real world.
I have a B.S. (we all know what that stands for LOL) because the rules said I had to have it to make officer in the Fire Dept.
But this goes back to the OP, should salaries be capped? And the guys that came up with that lame brain scheme are right outta academia, and not out here in the real world, where a guy can be fired for incompetence.