Principle
Libertarians are strongly principle-based. Guaranteeing individual rights and maximizing liberty is paramount. Libertarians want a peaceful society where coercion is minimized and everyone acts voluntarily. The primary libertarian principle is known as the Non-Aggression Principle (NAP). (<= Click the link for a complete explanation of the NAP.)
Government
The only legitimate function of government is to secure and guarantee individual rights, and to provide an extremely limited number of truly public goods (think roads). Government should enforce the NAP and ensure that people are free, honest and peaceful. Every law is an authorization for government to use force on some people under some circumstances, so laws must be minimized and limited to only those necessary to enforce the NAP. Maintaining a secure border is an important government responsibility. Unfortunately, a strong national defense also is essential in this world to protect citizens from external aggression. However, defense is for defense only — no undeclared wars or “police actions”!
Debt
All governments must operate with balanced budgets. Saddling future generations with debt is morally wrong — it’s taxation without representation. The $37,000,000,000,000 federal debt imminently threatens the very existence of our country!
Economy
Libertarians strongly support a free market economic system. It is the only economic system that functions voluntarily and without the use of force or coercion; therefore, it is the only economic system consistent with the NAP. A free market economic system will automagically self-organize whenever people are free, honest and peaceful. It is an entirely natural thing! A free market economy maximizes the rate of wealth creation to everyone’s benefit. Interfering with its normal operation (e.g., minimum wage laws, regulations, crony statism, etc.) must reduce the rate of wealth creation and harms everyone.
Tolerance
Libertarians are “live and let live.” Anyone is free to do whatever they like as long as they do not infringe upon the equal rights of others to do the same. However, Libertarians are wary of tolerating intolerant people who may become a danger to the rights of others.
Immigration
Citizens’ exit and re-entry though ports of entry with their possessions and capital must not be impeded. Libertarians support a welcoming immigration policy for those who would abide by the NAP, assimilate into our society and contribute to it.
Abortion
As is true for most large groups in our country, Libertarians do not have a solid majority that can agree on this difficult issue. Of course, Libertarians do not like abortion and encourage in-utero adoption as a way to reduce abortions.