Is this not theoretically the libertarian party? (Of course in reality it’s often the Republican-lite party). It hasn’t proven to be a winning strategy
No, democrats and libertarians differ on the role of government in preventing businesses from acting unethically, firearms regulation, and age of consent.
The Libertarian Party is solely focused on reducing the liabilities side of the balance sheet in the interest of reducing the income side by lowering taxes. Try showing up to to a libertarian convention with "give me some money to invest in a program that will benefit our whole society" and see how far you get.
Our whole society should be benefiting any day now, yeah?