When someone is called a “libtard”, it isn’t making fun of disabled people. It is making fun of the one being called that.
My guess would be it is a substitute for the word what begins with an “R” and has an “E” in it instead of the “L”, “I”, & “B”.
If one use that word here on imgflip at a person who leans to the left and has really goofy ideas about what freedom is and America in general, then people here get their collective panties in a twist and flag the comment and the one what used that “R”-word for is given a timer.
Now keep in mind, that’s only a guess on my part.