It seems to me that some of you still do not understand libertarianism. We do not expect free market to be perfect and people to know what is best for everyone. By scaling things back we want people to have a say in their future and decide what is best for themselves. We actually agree with liberals on a lot of issues but have a different approach. Take gay marriage for example. Progressives believe it should be legalized and forced up religious institutions. Libertarians believe that we should get the government out of it and let consenting adults marry without an obstruction.
We want to get rid of government waste and social programs because they are inefficient and unethical. For example IRS can be completely eliminated if we simplify the tax code. EPA has legalized pollution. In many other cases the negatives outweigh the benefits.
Penn Jillette does a good job describing libertarianism:
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