I don't know the exact formula, but yes–you will eat up a larger percent of the group exp than a class without an exp penalty of the same level–higher level players also eat up a larger percent of the exp.
It's still the correct trade if you're a good tank, imho. So I wouldn't say you are screwing your group over.
However, if you are a bad tank or just DPSing and not providing some other other utility (e.g. pulling, snaring, fearing, etc.), it's generally not a good deal for the group.
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