A New 'America Party’ Launched by World’s Richest Man Elon Musk
Person in News
5 min read
The world’s richest man, Elon Musk, has announced the establishment of a new political party named ‘ America Party’ on his social media X handle. The announcement of Elon Musk came after American President Donald Trump signed into law his self-styled "big and beautiful" tax cut and spending bill.
The American political system has been dominated by two major parties: the Republican Party and the Democratic Party. Although other parties exist in the United States, they are not politically significant.
Dispute Between Musk and Donald Trump
Many analysts in the United States believe that Elon Musk played a crucial role in Donald Trump's re-election in 2024 by spending millions of dollars on his campaign and utilising his social media platform, now known as X (formerly Twitter), in Trump's favour.
Elon Musk was appointed as the head of the Department of Government Efficiency (DOGE) by Donald Trump. The Trump administration established DOGE to reduce government spending and shrink the substantial American government deficit.
However, the new tax and spending bill of the US government was opposed by Elon Musk, as it will increase the US government deficit from $2 trillion during Joe Biden's previous presidency to $2.5 trillion.
Elon Musk, who owns the Tesla car company and SpaceX, among other companies, opposed the bill, stating that it would bankrupt the American economy.
Thus, he resigned from DOGE and started a new political party to save America.
President Donald Trump, who belongs to the Republican party, has called Elon Musk's formation of a new political party ridiculous and said that America has a two-party system, and third parties have never succeeded in the country.
American Political Party System
The American political system is viewed as a classical two-party political system dominated by the Republican Party and the Democratic Party. These two parties have dominated politics at the local, state, and national levels.
There are other parties, such as the Green Party, Libertarians, the Constitution Party, and the Natural Law Party, but they have not made a significant mark on national or state-level politics.
Republican Party
The Republican Party is often called the Grand Old Party (GOP).
It was founded in 1854. They support a decentralised government with limited powers and a greater role for the private sector.
They are viewed as right-wing in political ideology, socially conservative and supporters of economic libertarianism (free market economy with limited government role).
They are the biggest supporters of the right to bear arms, as articulated in the Second Amendment of the United States Constitution. They oppose gun control laws and are opposed to women’s legal rights to free abortion as well as LGBTQ+ people’s rights to equal treatment.
Logo of the Party - Elephant
Democratic Party
The Democratic Party is the oldest political party in the United States, although its exact date of origin is disputed.
In contrast to the Republicans, the Democrats are perceived as a liberal, left-leaning party. It supports government intervention in the economy and advocates for heavy taxation to establish a welfare state that provides government-funded healthcare.
It also supports women’s legal rights to free abortion as well as LGBTQ+ people’s rights to equal treatment.
Logo - Donkey
