Not all .com domains are registered by businesses, and increasing the costs for everyone is unfair to people using domains for non-commercial reasons. 

The web was not created to be owned and sold, it was created for sharing information. Increasing costs such a substantial amount is unfair and will lead to only large corporations having .com 

Forcing others to change their domain undermines any work they have put into it. Stop hurting the little guys just to make more money.