A Conservative's favorite word, especially those who don't practice what they preach and sit on their lazy asses all day long watching Hannity and O'Reilly; listening to Beck and Limbaugh, etc.
Saying (or shouting) "Libtard" is way for these types of Conservatives to "win" at any political argument/debate because it falsely establishes philosophical superiority by diverging away from hard facts and resorting to common name calling, which in turn, is a logical fallacy.
"And then why is America one of the last 1st world countries not to have Universal Health Care?"
"Whoa, hold on a sec. This is 'merica and I'm not having none of that libtard language 'round these parts!"