This isn't a bad idea at all. Even tho the bail should be much higher I think this could work. Get's people free and kinda 'fix' the economy a bit.
Some suggestions of my own for this topic is:
People with over 40 stars shouldn't get bailed out. (41 & 42 wanted level [level 40 doesn't count ^^])
Bail should be set at $250.000 (250k) for any wanted level, no matter if you get jailed with 1, 10 or 39 stars.
The bail go straight to government budget.
Have an NPC, in a police skin, outside cells so people can go there and get bailed, and not be a GUI that pops up when you get jailed.
That's all for now.