I would love to see something like this implemented here in Australia. Fines based on your income is a great idea, given the outrage some have over the idea of sliding scale fines, I would argue that it sounds like the system is working. If you knew that you could possibly be fined $100k for speeding, would it deter you? Most definitely.
I have had similar thoughts about drink drivers. If you get caught being over the limit, you should have your licence instantly taken off of you for a set period of time. It does happen, but only in extreme cases where someone is so over the limit it is ridiculous. If you drink and drive no matter how much you're over, you should lose your licence (a sliding scale starting at 3 months and going up to 24 months).
Lets get serious about more than just fines, but people who knowingly break the law in their vehicles without a care in the world.