That "life on the line" argument is weak at best. They made a career choice knowing what they were getting into. I don't see the grunts in the military making that kind of money.
If you're going to pay a 100K salary to a police officer then you should require something for it, like a 4 year degree and lots of time served. High starting salaries invite job seekers who arent qualified and know the right people or people who are just looking for the money. I always believed being a cop was a calling, not a "hey, this pays good I'll try it" kind of job. The salaries should start low and stay that way to only get the comitted people applying for the positions. Let the monetary rewards come a few years later.