Jacobs is actively involved in libertarian politics and publishes his views via a blog. Jacobs supported Texas Congressman Ron Paul for President in 2008.

He is a member of the Free State Project and delivered a speech at the organization's 2009 New Hampshire Liberty Forum. He has also spoken at the Ludwig von Mises Institute, an anarcho-capitalist think-tank for promoting the Austrian school of economics.

In an interview with The Tom Woods Show libertarian podcast, Jacobs mentioned Woods, Harry Browne, Ron Paul, John Stossel, Peter Schiff, and Murray Rothbard as his political influences and stated he is "theoretically a Rothbardian", but does not believe that a stateless society would be achieved in his lifetime.

Some Tea Party affiliated groups attempted to recruit Jacobs to run in the 2014 Republican U.S. Senate primary in Tennessee against Sen. Lamar Alexander.

In May 2016, Jacobs said he was "seriously considering" a run as a Republican for the Knox County, Tennessee mayoral seat in 2018, but would make a final decision after the 2016 presidential election.

Basically, he’s a libertarian that decided to run from the Republican Party to have any chance of winning, that doesn’t mean he has Republican views