By involuntarily forking your paycheck via an income tax, and using their notes as the main means of transactions (easily devalued), you are a true defacto serf. It's illegal and unconstitutional, but people go a long, because it would be crazy not to. Most judges and lawyers agree on the technical matter of this, but do not enforce it because of the political implications.
What has representative democracy amounted to? The civil service almost always win, they remain entrenched past every administration. Then you have politicians and the corporations in the next pecking order. The voter is almost always result in the same old Democratic wrist slitting party, or the Republican hammer to crotch Party. True political power comes from the Universities and "intellectuals" who create public policy, and a mainstream press the pushes the said opinion. Then the politicians ride these waves.
The current America is not the ones of the classical liberals and founders.
It's dead.
No libertarian will restore it, it is impossible. If a Libertarian comes into power, he basically has minimal to no pull on the executive and judicial branch (which takes decades - he does not have that). Structurally it remains the same - it might not get as bad, but won't improve. There is absolutely no way to reform the system save for a post-crash and reboot scenario.
Even if there was true reboot in an aforementioned classical liberal or libertarian society, there is no evidence or structural means from repeating the events of FDR.
The USG, is run by the civil service and corporatist interest. People are attracted to this because initially it might work. But this will always degrade. It has a half life, and usually collapses from the financial system. This is precisely what is happening.
It is FDR's America now.