I am a diehard Californian, but I live here with 38 million of my closest friends. For those keeping score at home, that's roughly 12% of the total US population, and it's also the most populous state in the country by a wide margin. Based on what I know about you, you live and work in Alaska, which is the 47th least populated state in the US, and has roughly 2% of the total population of California alone. While $40k-$50k/year may be a perfectly acceptable where you live, it's not acceptable for the tens of millions more who live in CA, NY, and other higher cost-of-living states. Pay levels must be based on areas where most people actually live, not cheaper areas where fewer people live. Most importantly, it should never be assumed that people will simply uproot themselves to go live in, say, Tulsa, just to make $40k/year into an acceptable income level.
And yes, I pay a lot each month for student loan repayment, though in 2014, it's not an unheard of amount. In fact, for those coming out of school now, college tuition is much higher, and $40k-$50k/year simply will not be enough to repay those loans.
We're only worth what we negotiate, and we simply don't need pilots defending low pilot pay. It's never in your best interest.