Rules Idea: Cut Player Salary If Released

This idea has occurred to me several times in the past, particularly at this time of year. It's basically about adding some market incentives to the waiver/draft pool.

When we cut our rosters down to 25, a lot of players get cut. A lot of them have some value, but their salaries are too high to justify keeping them around. This happens in real life too. But in real life, a released veteran who becomes a free agent will (if he can) sign a new contract with someone at a greatly reduced salary. In the MBL, such players insist on being paid at their full previous salary, a figure that, in essence, every MBL team has announced they aren't willing to pay him.

The result is a waiver/draft pool cluttered with overpriced veterans, some of whom could potentially help a team. You probably cut several yourself recently.

So here's a rules idea, to be added to Roster cuts in the Charter:
When players are released under this rule, their salaries are reset to 75% of their current amount, or the league minimum salary, whichever is highest.

I think this would make the pool a little livelier, and would be fairly easy to administrate, as a strictly once-a-year occurrence.

What do you guys think? The details could be different, like the actual percentage number used and/or who it applies to. (For instance, I could see arguments for applying it only to players whose current salary is relatively high - over $400,000, perhaps.)