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Sorry for the overly long title, I don't know how to put such a thing with less words without losing the context of the thread.
Never in american history a third party won as far as I know. Some people tried to arguee once in a thread that Lincoln victory was a third party victory since it was the first victory of the republicans, however it was replied that the whigs had been phased out and the republicans and democrats already had become the hegemons at that points so it does not counts as a third party win. The closest I can think of a 3rd party winning was Ted Roosevelt Running for the Progressive party in 1912, but he lost due the vote being splitted with the republicans.
based on that I ask you: Something happens, maybe a scandal involving Wilson or Taft that gives a boost for the Bull Moose party and suddently them finds themselves as the ruling party on the presidency, the USA now got three main parties, the progressives, the democrats and the republicans. What are the political ramifications? Could this system continues or the republicans would be steadily absorbed into the Bull Moose party?