That would force all the poor Joe Schmoes to switch from fossil fuel-driven vehicles to electric ones, but the billionaires (and probably many [most?] of the mu

That would force all the poor Joe Schmoes to switch from fossil fuel-driven vehicles to electric ones, but the billionaires (and probably many [most?] of the multi-millionaires) would still be able to afford burning fuel. All the billionaires and even the single-millionaires could of course also afford to switch to electric vehicles... but the poor Joe Schmoes can't. So what you're proposing is basically "Let's make using cars (even more than it already is) something for the rich only!"