Libertarian Party on Budget & Economy

	Libertarian Party on Budget & Economy Party Platform

Voluntary funding & Balanced Budget Amendment

We oppose any legal requirements forcing employers to serve as tax collectors. We support any initiative to reduce or abolish any tax & oppose any increase on any tax for any reason. To the extent possible, we advocate that all public services be funded in a voluntary manner.

Government should not incur debt, which burdens future generations without their consent. We support the passage of a "Balanced Budget Amendment" to the U.S. Constitution, provided that the budget is balanced exclusively by cutting expenditures, and not by raising taxes.

A free and competitive market allocates resources in the most efficient manner. Each person has the right to offer goods and services to others on the free market. The only proper role of government in the economic realm is to protect property rights, adjudicate disputes, and provide a legal framework in which voluntary trade is protected. All efforts by government to redistribute wealth, or to control or manage trade, are improper in a free society.

Source: Libertarian Party Platform for 2018-2020 National Convention , Jul 4, 2018

Unrestricted banking competition, but vigorously fight fraud

We favor free-market banking, with unrestricted competition among banks and depository institutions of all types. Markets are not actually free unless fraud is vigorously combated. Those who enjoy the possibility of profits must not impose risks of losses upon others, such as through government guarantees or bailouts. We support a halt to inflationary monetary policies and unconstitutional legal tender laws. Source: 2016 Libertarian platform adopted in Convention, Orlando FL , May 30, 2016

Market allocates resources efficiently; government does not

Reduce taxes, spending, and eliminate controls on trade

To ensure the economic freedom and enhance the economic well-being of Americans, we would implement the following policies: dramatic reductions in both taxes and government spending; .an end to deficit budgets; a halt to inflationary monetary policies; the elimination of all government impediments to free trade; and the repeal of all controls on wages, prices, rents, profits, production, and interest rates. Source: National Platform of the Libertarian Party , Jul 2, 2000

Abolish all regulation of banks in favor of free market

We favor free-market banking. We call for the abolition of the Federal Reserve System, Federal Deposit Insurance Corporation, the National Banking System, and all similar interventions. Our opposition encompasses all controls on interest. We call for the abolition of the Federal Home Loan Bank System, the Resolution Trust Corporation, the National Credit Union Administration, the National Credit Union Central Liquidity Facility, and all similar interventions. Source: National Platform of the Libertarian Party , Jul 2, 2000

Pass constitutional amendment requiring a balanced budget

We support a constitutional amendment requiring the national government to balance its budget. A balanced budget amendment should provide: a. that neither Congress nor the President be permitted to override this requirement; b. that all off-budget items are included in the budget; c. that the budget is balanced by cutting expenditures, and not by raising taxes; d. that no exception be made for emergency. Source: National Platform of the Libertarian Party , Jul 2, 2000

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Page last updated: Feb 24, 2022