I'm not just going to lecture here about the dangers of third party presidential candidates. Ralph Nader arguably turned the results of the 2000 election. As a result, people who want to vote for a third party candidate keep having to hear about the futility of that decision. Nader won only 2.74% of the vote and received no electoral votes, but he still tipped the election toward the candidate most ideologically opposed to himself, George W. Bush. Is this always the result? With the two parties controlling the entire political process, is there hope for third-party candidates? Here's a list of the top 10 most successful third-party candidates, by success in both electoral votes and percentage of popular vote. Nader doesn't even rank on this list, and he tipped an election.
Candidates and winners are color coded to better illustrate the relationship between the third party candidate and the winner of that election. Obviously these candidates ran because they didn't support one of the two major parties, but on the general political spectrum, a candidate will usually lean in one way or the other. If a candidate leaned toward the Democrats of the time, they're blue, vice versa red for Whigs or Republicans (Green means neutral party), so if the candidate and winner have the opposite color, it means the winner of the election sat on the opposite side of the political spectrum than the candidate (eg- Ralph Nader vs. George W. Bush). Below each title is the candidate's electoral vote result / popular vote percentage.


William Wirt, Anti-Masonic
(1832, winner: Jackson, Dem.)
Floyd: 11ev / 0%; Wirt: 7ev / 7.78%
In 1832, the first real political party, Democratic, had finally bred the beginnings of an opposition party, Whig. South Carolina preferred the smaller Nullification Party, and Vermont preferred the Anti-Masons.
RESULT: No effect, Jackson won by a landslide
9. James Weaver, Populist (1892, winner: Cleveland, Dem.)
22ev / 8.5%

RESULT: No effect, but incumbent Benjamin Harrison spent most of the election mourning his recently deceased wife, and Cleveland had already been a fairly liked president. Cleveland should have won in a landslide, but he only won by 3%.
8. Robert La Follette, Progressive (1924, winner: Coolidge-Rep.)
13ev / 16.62%

RESULT: No effect, Coolidge won by a landslide
7. Strom Thurmond, Dixiecrat (1948, winner: Truman, Dem.)
39ev / 2.41%

RESULT: No effect; Truman still won, but as historically bad headlines indicated, this race was too close for comfort.
6. Martin Van Buren, Free Soil (1848, winner: Taylor, Whig.)
0ev / 10.13%

RESULT: With Dems. and former Dems. split, the Whig Taylor won by less than 5% of the popular vote.
5. Ross Perot, Independent (1992, winner: Clinton, Dem.)
0ev / 18.91%

RESULT: With conservative votes split, incumbent Republican Bush lost to the candidate most ideologically opposed to Perot
4. Millard Fillmore, Know Nothing (1856, winner: Buchanan, Dem.)
8ev / 21.54%

RESULT: Former Whig president Fillmore split the non-Democrat vote, and Buchanan won with only 45.3% of the popular vote.
3. George Wallace, American Independent (1968, winner: Nixon, Rep.)
46ev / 13.53%

RESULT: Wallace split the Democratic vote and handed the White House to Nixon, who won by less than 1% of the popular vote


John Bell, Constitutional Union
(1860, winner: Lincoln, Rep.)
Breckinridge: 72ev / 18.2%; Bell: 39e / 12.62%
Breckinridge broke from the Democratic Party because they refused to be pro-slavery. Bell ran on a platform of holding the country together.
RESULT: With the Democratic vote split, Lincoln won (with only 39.8%), eventually freeing the slaves... after the country broke apart. Great job, slavery guy and Union guy!
1. Teddy Roosevelt, Progressive (1912, winner: Wilson, Dem.)
88ev / 27.39%

RESULT: Wilson broke a four election win streak for the Republicans, and the sitting Republican president came in third. After turning the Republican Party into the party of progressivism, TR effectively sucked all the reformers out of the party.
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CONCLUSION: Best case for a third party candidate, he has no bearing on the result whatsoever. Worst case, he hands the election over to the party that stands for the opposite of what he does. Nightmare scenario, a real three-way split, where the House decides who gets to be the president. In 2016 terms, best case: not enough people vote for Stein or Johnson to make a difference; worst case: Stein and Johnson pull enough support from rational voters to hand Trump the election; and nightmare scenario: a three or four way plurality, where Paul Ryan gets to decide who gets to be the next president.
I'm all for more parties, like we had at the turn of the 20th century. Those parties didn't form by running no-names for president then disappearing for four years. They formed by pulling together rational people under a clear ideology. That's how we fix the two-party system. You don't just vote for the Green Party president and hope everything sorts itself out. Bernie Sanders is up for re-election in 2018. Perhaps instead of re-running as an Independent, he form a new, real Progressive Party, and focus on gaining enough support and finding the right candidate for a presidential run in 2024 or 2028.
If you're planning on voting for a third party, ask yourself, who would you rather win the White House? Clinton or Trump? If you truly don't care, vote for Stein or Johnson. But then you don't get to complain if Trump wins, and yes, I will absolutely blame you for it.
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