The Libertarian party is the third largest American political party. The party has over 200,000 registered voters and is active in all fifty states. They have more candidates, wider access to the ballot, and most importantly, they have the most elected officials.Political Philosophy
The Libertarian Party has the simplest political philosophy: they believe the only function of government is to insure that all citizens are allowed freedom to pursue their own life’s goals. Therefore, they do not favor any government regulation that obstructs individuals in their family lives and business pursuits. But they also insist that along with such freedom comes much individual responsibility; thus, “we believe all Americans should be free to live their lives and pursue their interests as they see fit as long as they do no harm to another.”
They advocate small government, low taxes, and more freedom for everyone who takes responsibility for that freedom. They call it a “live and let live” mentality.
History of the Libertarian Party
On December 11, 1971, the Libertarian Party was founded at John Nolan’s residence in Colorado, and the party held its first national convention the following June 1972 in Denver. For president, they nominated John Hospers, who was a professor of philosophy at the University of Southern California, and for vice-president, they nominated Tonie Nathan, who became the first woman in American history to earn an electoral vote.
In 1975, at its national convention held in New York City, the party nominated Roger MacBride for president and David Bergland as vice-president. In 1976, MacBride was listed on the ballot in 32 states, receiving 170,000 votes.
In 1979, the Libertarian Party in California achieved the status of being placed permanently on the ballot, because California had over 80,000 registered Libertarians. The 1980s saw several milestones reached for the party, as Ed Clark, Libertarian candidate for president, was on the ballot in all fifty states, Washington D.C., and Guam; almost a million voters cast their votes for this Libertarian candidate.
By 1990, nearly two million voters were choosing Libertarian candidates. The party continued to attract attention, and in 1996, it became the only independent party to gain ballot status in all states for two consecutive presidential elections. By 2002, the party had the largest slate of independent candidates of any third party since the Second World War
In the 2004 election, the Libertarian Party appeared on ballots in 48 states, beating out Ralph Nader, who was on 39 ballots, the Constitution Party, which was on 35, and the Green Party, which was on 27 ballots.
The Libertarian Party is growing, but it is still quite small compared to the two major parties. Libertarians are strong-willed, however, and can be found in many places, including Democrat-dominated Hollywood. Clint Eastwood, Kirk Russell, and Jason Alexander are three of the big names who count themselves Libertarians.
Reference:
Official Web Site of the Libertarian Party
Historical Overview of the Libertarian Party



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