I agree. I think FIFA are looking at this, as it punnishes the team 3 times. Red card, penalty, and suspension.Crazy
I've seen media talk about it, but never seen any confirmation from FIFA they are looking at it.
The card and penalty punish the team. The suspension punishes the player more than the team, as they still get to field 11 men next game. Players know the laws of the game (mostly) and they know the consequence of cheating. Some still do it. Reduce the punishment and the frequency is only going to move in one direction! (To avoid tangents, this is sport, where crime comes from only one source - influencing the outcome of a match - not at all comparable to society crime.)
The problem with changing it is in removing the disincentive from players to cheat. If you don't get sent off and/or suspended and the only punishment is a penalty, then why wouldn't you handle every goalbound shot? There's a chance the penalty isn't converted and you've benefited from cheating.
I've also seen it suggested that a player is only punished if a penalty is not converted. Sam Allardyce has suggested this several times. It would make penalty taking an interesting strategy - whether to deliberately miss in order to have an opponent dismissed. I can't see FIFA going down this road given that it would provide a team with an incentive to deliberately miss a goal if it's early in a game.
Ultimately, the current approach to the laws seem fair to me. The only argument I could see having success is to make accidental handball a foul too, just as originally happened with other fouls back in the midsts of time. Fouls only used to be fouls if deemed deliberate - at least that was a history lesson I was once given by another ref. Making accidental handball would save the arguments over intent. Wouldn't have kept Kewell on the pitch though!