The Libertarian Party (LP) was established in August 1971 during gatherings at David F. Nolan's home in Westminster, Colorado, and was officially founded on December 11, 1971, in Colorado Springs.

Influenced by Austrian economist Murray Rothbard, the party was a response to the Nixon administration's policies, the Vietnam War, conscription, and the adoption of fiat money.

Core Beliefs:

The LP promotes civil liberties, non-interventionism, laissez-faire capitalism, and a limited government. They advocate for classical liberal principles, positioning themselves as more culturally liberal than Democrats and more fiscally conservative than Republicans.

Their platform includes lowering taxes, abolishing the IRS, reducing national debt, and dismantling the welfare state in favor of private charity.

Political Stance:

Civil and Cultural Issues Cultural Policies: The LP supports ending the prohibition of illegal drugs, criminal justice reform, same-sex marriage, and the abolition of capital punishment. They uphold gun ownership rights and advocate for a society where individuals are sovereign over their lives without government-imposed values.

Civil Liberties:

The party emphasizes strong civil liberties, including freedom of speech, unrestricted freedom of the press, and the right to dissent from government. They oppose censorship and support the legalization of victimless crimes like drug use, pornography, prostitution, and gambling.

The LP is also a staunch defender of Second Amendment rights, opposing any restrictions on firearms ownership.

Economic Policies:

Free Market and Fiscal Conservatism Economic Philosophy: The Libertarian Party supports minimally regulated markets and a less powerful federal government. They advocate for the elimination of minimum wage laws, believing these drive up employment costs.

The party also opposes government subsidies and promotes free-market banking with unrestricted competition.

Healthcare and Welfare:

The LP favors a free market healthcare system without government oversight, supporting the repeal of social insurance policies like Medicare and Medicaid. They argue for dismantling the entire welfare state, encouraging individuals to rely on family, community, or private charity instead.

Environmental and Education Policies Environmental Views:

The LP believes in protecting the environment through private land ownership and conservation efforts, arguing that governments are less accountable for environmental damage. They support free markets and property rights as the best means to stimulate environmental protection and technological innovation.

Education Philosophy:

The party advocates for ending the public school system, promoting education through the free market for greater quality, accountability, and efficiency. They emphasize parental responsibility for children's education, supporting the elimination of corporal punishment in schools and advocating for parental control over educational funding.

Governance and Foreign Policy Government Reform:

The LP supports election systems that represent the electorate more accurately and opposes laws that restrict alternative candidates. They promote direct democracy through referendum and recall processes, opposing tax-financed subsidies to candidates or parties.

Foreign Policy:

Libertarians favor mutual respect between nations, free trade, and non-interventionism. They have called for the withdrawal of American troops from global conflict zones, opposed military interventions like the 2011 Libya intervention, and advocated for withdrawal from NATO.