Their rhetoric is full of "Freedom", "Liberty" "No Taxes" and such like. That's a fine bunch of words, but let's look at their agenda a little more closely.
We'll start with some other words and phrases essential to their position that they (understandably) try not to cut loose too early in the conversation.
One of these is "benign neglect." Woohoo! It's oxymoron time in Libertopia. It's also their idea about how to handle the problems of inner cities.
Another magic talismanic phrase is "market forces." Picture, if you will, the effects of combining privately run prisons (which they advocate) with a "free" trade in human organs.
Don't let's forget their opposition to any kind of contract or labor laws, including child labor laws. Let's see how things turn out when binding contracts can be signed by children. Can you say slavery? How about child prostitution? Don't believe me? I've mirrored the Libertarian Party Platform of 2002 (in case they discover some shame) here. Read Part I section 21 and puke.
Picture too, while you're at it, the effect of having every antibiotic available without restrictions of any kind. If you think our drug-resistant bug situation is a problem now, just wait until any quack with any (or no) qualifications can sell you any antibiotic.
Not to put too fine a point on it, their basic recruitment tactic is to seduce clueless rich white kids into supporting laissez-faire capitalism with the promise of legal dope.
Don't get me wrong here--I'm not in favor of our current drug prohibition or any other unworkable moralism coded into law, but there is a baby/bathwater issue here.
Don't go for this trap, kiddies! You owe all that wonderful security that you take for granted to the organization whose job it is to protect you. You have a fantastic amount of liberty as a direct result of this wonderful organization, and that liberty would vanish immediately on its disappearance.
Life would rapidly reach that Hobbesian ideal: "solitary, poor, mean, nasty, brutish, and short."
If you don't believe me, just go to any random third world country unencumbered by burdensome laws, or by rule of law at all. Somalia, Russia or Nigeria would all be excellent choices for this experiment.
When and if you come back in one piece, I guarantee that you will have a new-found respect for the institution that makes sure that it's viable to set up sewage plants instead of relying on the cheap, but unstealable open (yecch!) sewers, keeps police officers from robbing you at gun-point, and keeps people from literally stealing the telephone lines out of the ground for the copper.