David Boaz, Vice-President of the Cato Institute, a libertarian think tank based in Washington, DC, recently wrote an article in National Review, "Libertarian is not a Four-letter Word." The article was in response to an analysis of the ideological make-up of the electorate from famed pollsters John Zogby and Zeljka Buturovic.

Among the response, Boaz agreed that the vast majority of libertarian-minded voters identify with the Republican Party. Though, they wavered somewhat in 1992 with Ross Perot, and again in 2004, and 2006.

From NR The Corner:

yes, we’ve found that the 14-15 percent of libertarian voters we identify usually vote about 70 percent Republican. But not always. In 1992 half that libertarian Republican group jumped ship and voted for Ross Perot. In 2004 George W. Bush got only 59 percent of the libertarian vote, and in 2006 libertarians gave only about 54 percent of their votes to Republican congressional candidates.

The good news for the GOP, Boaz finds they've largely returned to the Republican fold. Continuing:

Facing a prospective Obama-Reid-Pelosi government during an economic crisis, they came back to the Republican fold in 2008.