In his acceptance speech for the 1976 Democratic nomination, Jimmy Carter said a memorable phrase: The income tax system, he said, “is a disgrace to the human race.” It is certainly the best rhyme of Carter’s presidency, and it is still apt, because it describes Carter himself to a T. After flunking as president, Jimmy Carter has now become an unalloyed embarassment. As president Carter almost managed to drive the US economy off the road, with the highest combined inflation and unemployment rate in a half century. Even worse, it was Carter who brought Ayatollah Khomeini to power, by refusing...