Regarding a few points:
(1) In US / Canada it typically takes 6-8 years to get an MD, and then another 2-5 years to complete most residencies. A first year resident makes around $35,000 (USD / CAD) in most programs. At least as far as I'm aware. Paramedic pay varies greatly across North America, and across the world. But many medics I know make twice that without working extra shifts. Granted, this pay rate is on the higher end for what most medics make in a global context, but it's still a lot more than a residency. The pay definitely goes up as you complete residency years, and shoots up as soon as you've completed the residency program, but it takes a lot more than 6 years before the physician makes an income that outstrips a paramedic in some places.
(2) BLS pay is bad because the barrier to entry is low. It's too easy to train as a basic EMT. There's too many trained bodies, therefore there's a high demand for work, and a low supply of paid positions. This doesn't provide an incentive for the employer to raise pay. They don't have to to fill positions.
There's definitely a chicken-and-the-egg argument that no one will want to go to a longer EMT program if they can graduate in a shorter time, and few people want to invest more time / expense in their education if the pay is low. But it's hardly likely to go up any time soon if the barrier to entry for a BLS provider is < 6 months in many places, and 100 hours in others.
(3) You can train someone for 2 years just to provide good BLS. I think at this point it would be reasonable to throw in a BIAD, CPAP, 12-lead interpretation and possibly aspirin and IM / SC epinephrine, maybe some ventolin, perhaps entonox. There's no reason why an EMT can't have a decent education in physiology, pharmacology, pathophysiology.
If I was king, 2 years to EMT, 4 years to paramedic, and a real 2 year certification for a higher end critical care level. Someone who can fly or do critical LDT work, who can actually interpret x-rays, reduce dislocations, put in arterial lines, intelligently read bloodwork, manage a vent with ABGs, and manage electrolyte derrangements. You could maybe even make an argument for this type of medic to work in a rural ER, although this is probably starting to overlap the PA role in the states.
There needs to be real EMS research. There's very few programs right now, and very few people producing good data. We need to more critically examine what we're doing well, what we're doing poorly, and how we can improve it. We need to develop treat and refer protocols, and arrange billing in a way that encourages physicians to support this development. There's plenty of patients that could be referred to a family physician, instead of being taken to the ER to wait for 8 hours in the waiting room. It would be great to have a real-time ability to consult with a physician to direct some patients elsewhere.
MPDS needs to go. We need to find a system that works better. We need to stop responding hot to every single abdominal pain just in case one of them is an AMI or a AAA. There needs to be a rational system for dispatching based on clinical priority, instead of liability management. We need to move away from the idea that someone with 24 hours of training and a ring binder is a professional.
There needs to be widespread amalgamation of EMS services and response areas, so that every little town doesn't have it's own service. There needs to be an integration of EMS into healthcare and away from public safety. There needs to be true national licensure and reciprocity.
In my opinion.