Sounds great but it's a regressive tax when you consider that it disincentivizes people actually using their cars. Once they've bought their new, fuel efficient

Sounds great but it's a regressive tax when you consider that it disincentivizes people actually using their cars. Once they've bought their new, fuel efficient car you want them to drive around and create economic value. This tax will ensure that less value is created. Your "far better" proposal is potentially worse.