(Although the total difference in carbon emissions from diet are subsumed by the emissions of one cross-country plane flight [1] [2], so if you're concerned about optimizing the inner loop, that's what you, as a typical reader of this site, probably need to look at.)
[1]: http://shrinkthatfootprint.com/food-carbon-footprint-diet
[2]: http://calculator.carbonfootprint.com/calculator.aspx?tab=3
A small number of concerned and informed individuals trying to reduce their own carbon footprint is pointless. There's no way it pencils out to anything even vaguely worthwhile, even if they went to extremes. Even if they committed suicide and left their entire inheritance to carbon reductions it simply doesn't add up.
On the other hand, a carbon tax that introduces virtually imperceptible changes across the entire economy of the world, would actually fix the problem.
So yes we can do both, but one makes effectively no difference, even if it feels like a big deal to the person doing it.
I fear this is the thing that'll prevent any real progress toward managing climate change. While everyone will accept using canvas bags instead of plastic, they also want to keep the luxuries they've become accustomed to.
Obviously, subsidies to cattle ranchers are bad. But whether they are funded from increased debt or a carbon tax does not affect their badness.
If you're wondering "why not use targeted legislative mandates instead of carbon taxes?", I'd say that taxes have an advantage in that they're harder to game and need fewer adjustments over time. For example, if you introduce a mandate to make cars more fuel efficient, manufacturers will tweak the vehicles they sell so they are no longer "cars" but some legislatively distinct class of vehicle, and people who like gas guzzlers will just drive those tweaked vehicles. But if instead there's just a carbon tax on fuel it's a lot harder to game your way around the legislative intent.
[1] Assuming that the balance between just paying the tax and evading the tax still favors paying it. You don't want to impose a $20/pack tax and find that you've just given organized crime a major boost.
There's a whole lot of businesses where that's relatively easy, but since carbon is effectively free, they'll happily squander it for no real gain.
Unfortunately that's not practical for most people. Also, we overinvest in our highways and cars because there seems to be almost no collective will to build a national transportation network beyond that.
And I don't want to completely rag on one side of the political spectrum because if we could build a whole bunch more nuclear reactors we could solve a lot of this very quickly in the short-term.
Finally we could all eat a whole lot less beef. But I don't see any of this happening even if the current crop of leaders is kicked out the next round of elections.
There are solutions to a lot of the problems we face here in America but many of them are going to annoy both sides of the political fence differently therefore they're not going to happen. I'd love to see that change but I'm not holding my breath.