No, they don't. For that to work, this requires the proponents of bad ideas to respond to logic, and for the acolytes of reprehensible ideas to be ashamed of what they are doing.
The skinhead shouting "Hitler did nothing wrong" isn't going to back down when you call him out for what he is, and he isn't going to be convinced by logic, facts, or rationality.
If he were, the second world war would have been called "World Rational Debate Competition, Part II."
Likewise, the religious fundamentalist isn't going to back down, or stop preaching hate, just because you point out the absurdities and inconsistencies in his holy book, or the hypocrisy in his prattle.
For some reason, though, liberals are falling head-over-heels to defend the right of the former to amplify his message.
Freedom of political discourse is not fundamentally incompatible with zero tolerance of fascism - just like freedom of religion is not fundamentally incompatible with zero tolerance of violent fanaticism.
What is fundamentally incompatible in a tolerant society, is toleration of intolerance.