The minimum is too low, but it’s a step in the right direction.
The right FIRST step, however, is to prosecute those who have been blatantly flouting even the ridiculously trivial requirements of the current law - because it doesn’t matter what the law is, if no one fears enforcement.
“The minimum is too low....”
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I agree, it IS a good idea but the minimum should be closer to $175K, IMHO.