The point i that exist and the government has them. Your concern was that you didn't want the government to have access to your income details, well, in most cases it already does. So your point is invalid.
I agree that the threat of losing your licence is more of a deterrent for most people than the fine. Here in the UK, the fine for a speeding offence (when I last got caught for one) was £90 I think. This is about the same in this country as one tank of petrol i.e. for anybody who can afford to run a car, it is quite trivial. OTOH you also get three points which is a quarter of the way to losing your licence.