American Libertarianism seems to be a good thing. However, there's a problem --- What about people who do, in fact, need welfare?
I've had first-hand experience with this, as have plenty of my friends. When your Dad isn't healthy enough to even get out of bed for a year, the "too lazy to work" excuse gets thrown right out the window. The same goes for when said Dad is too ill to walk for more than 100 yards at any given time.
Taxes are needed for some things. That's just how it goes.
And there's a difference between American and European Libertarianism. American Libertarianism is what's being discussed right now: Very, very small government, with no taxes or any "government handouts" whatsoever. European Libertarianism is Socialist: A government meant to protect the civil liberties of all citizens, with free government programs to support the people.
I'd say I'm in between the two. American Libertarianism just has too few (or none at all) programs for people who can't make money, and European Libertarianism has a bit too many restrictions on business actions.