Badnarik's political philosophy emphasized individual liberty, personal responsibility, and strict adherence to an originalist interpretation of the U.S. Constitution.

In economics, Badnarik supported laissez-faire capitalism, a system in which the only function of the government is the protection of individual rights from the initiation of force and fraud.

Badnarik was viewed as unlikely to win the Libertarian presidential nomination, facing challenges from talk-show host Gary Nolan and Hollywood producer Aaron Russo.

In what was then the closest presidential nomination race in the Libertarian Party's history, all three candidates polled within 12 votes of each other on the first ballot (Russo 258, Badnarik 256, Nolan 246).

Some members of the party disapproved of Badnarik becoming the presidential nominee, feeling that he would be unable to draw media attention that many had felt Russo would have.

"[7] Badnarik's capture of the nomination was widely regarded as a surprise by many within the party; both Nolan and Russo had outpaced him in both fundraising and poll results prior to the convention.

[11] By the end of the election cycle, Badnarik's presidential campaign had raised just over one million dollars (US), obtained ballot access in 48 states plus the District of Columbia (the Libertarian Party failed to obtain ballot access in Oklahoma and New Hampshire, although Badnarik was a qualified write-in candidate in New Hampshire), and placed nationwide political advertisements on CNN and Fox News, in addition to local advertising buys in the important swing states of Wisconsin, New Mexico, Nevada, and Arizona.

Badnarik suffered a heart attack on the morning of December 21, 2009, while in Viroqua, Wisconsin attending a hearing regarding a raw milk case.

[citation needed] Badnarik believes that the federal government had exceeded its Constitutional bounds and should be scaled back in favor of a laissez-faire society.

In an August 2004 interview with the journal Liberty, Badnarik stated that he had not filed tax returns for approximately the previous three years as he was unemployed.

[26] When Badnarik moved to Texas, he did not obtain a driver's license, due to that state's requirement that an applicant provide a Social Security Number and fingerprint.

[citation needed] After the 2004 presidential election, Badnarik, working with Green Party candidate David Cobb, sought a recount of the Ohio vote.

This caused controversy within the Libertarian Party, as presidential second place candidate John Kerry had not contested the vote in Ohio, and a recount would cost the state an estimated $1.5 million of tax-payer money.

"[citation needed] In his book Good to Be King Badnarik suggests that it is unnecessary to have a driver's license to drive,[28] that the IRS has no Constitutional authority to collect taxes,[29] and that common law marriages are valid in all 50 states.