Most public school teachers are required to obtain a master's degree- so that is six years of education. Are you really suggesting that starting teachers make $34/hour?
Most public school teachers? Where do you get that? In the states I've lived in, a four year education degree gets you in the door--granted those with post-graduate degrees are paid more, but not significantly more. In my experience, I haven't seen post-grad degrees being a requirement.
And I'm not suggesting anything about what starting teachers make. I can only go by the information presented here.