There was a similar proposal by Amory Lovins in the late 70's, where he showed that because the gas guzzlers lost value, they ended up in the hands of poor people.  He proposed some system, i can't remember how it worked, where the gas guzzlers would be repurchased from the owners at a net savings in energy to the gov.

Too busy celebrating to search to see what's on the net from those days, but it was a widely distributed proposal.

"Life shrinks or expands in proportion to one's courage." - Anaïs Nin