Rationing isn't stupid, nor taxing necessarily better. If there's time it's no doubt better to start with taxation and see how far that gets us. Quite possibly not far enough:

In the case of wartime fuel rationing, and perhaps if we were to end up with a carbon ration, it achieves a fair distribution, without the wealthy simply being able to pay extra not to participate. With enough wealth someone may not care that something carries a punitive tax rate, and they can continue being part of the problem.

In times of crisis, such as wartime or a failing ecosystem, we may find that ability to pay your way out of it unacceptable. Reasonably so in my opinion.