The difference is that the Libertarians were never a strong party force for various reasons that I have mentioned. The GOP was, and is now splitting apart from within. It would appear that the only thing keeping asses in the seats at this point, is voter loyalty, and habit.
To be honest, I'd like to see some numbers on how many people don't vote, because they feel that the primary two parties suck, and their vote would be "wasted" on a third party candidate. Something tells me that there's quite a few of them within that massive percentage of people that don't vote, and never have. Unfortunately, such a poll would be a massive undertaking, and would be prone to all kinds of problems.
You are, of course, right that the Libertarian Party is not very strong now. But the Libertarian Party is the Third Largest Political Party in the Nation, and in Virginia. The Libertarian Party is also experiencing significant growth.
Here are some Principles that will translate, over the long term, into significant increases in the Libertarian Party:
Elimination of Big Government Bureaucracy - Libertarians believe in limited government. Local control is almost always preferable to big government control because local politicians are more accountable to the people they serve.
Peace - Libertarians believe in a non-interventionist foreign policy and Peace, except where the US is attacked or free trade is interrupted (piracy, blockades,etc.). They believe that security is the responsibility of all citizens. The UN Security Council is a corrupt bureaucracy. It is not the guarantor of our security or our freedom. The biggest weapon in our arsenal is our freedom. There is a corollary relationship here, less free people enjoy less peace.
Yellow Gold - Libertarians know that the fiat currency shell game will one day come to an end. Libertarians believe that people have the right to understand how precarious the fiscal cliff REALLY is - Libertarians therefore support audit the fed.
Green Gold: Colorado has legalized marijuana. This is a victory for individual rights AND FOR STATES RIGHTS. Libertarians strongly supports the legalization here in Virginia.
Privacy. Libertarians strongly oppose the dehumanization of people through the violation of their privacy. NSA spying on citizens, National ID Cards and internal checkpoints in the USA are not acceptable to Libertarians.
Crony capitalism is a form of fascism and is as bad as communism. Democrats and Republicans practice crony capitalism and for the most part do not even acknowledge the evil in their deeds.
Lower taxes. Taxation is out of control. Taxes should only be used for constitutional duties. Libertarians support significant tax reductions. Whenever possible taxes should be levied upon the beneficiaries of a government expenditure.
Liberty. This is the bedrock of the party. Libertarians will not trade liberty for "security". We are most secure when we are free. When a people trades liberty for security they end up neither secure, nor free.
Guns : Libertarians are overtly pro gun. They believe what the Constitution says about the right to bear arms. They know that firearms has a deterrent effect upon tyranny.
Live Free or Die,
Thundar