Completely agree.  I once got into a discussion with a programmer about why they worked for such a low amount of money, and it turned out their 1 day assignment, paid them what they'd make in 4 days on a job.  My cost of living was far different than theirs, so yes, my $100 estimate for a 1 day project, and their $25 bid ended up being the same amount of work, just different cost.

But I post projects all the time and get professional bidders who bid below the budget price.  Why would you not allow me to accept those bids?