I Asked ChatGPT What Elon Musk's ‘America Party' Means for My Taxes, Here's What it Said
For You:
See Next:
The entry of a new and potentially popular third party into American politics could shake things up. While no one can predict the future, I asked ChatGPT to give me an assessment of what Musk's 'America Party' would mean for my taxes — here's what it had to say.
Potential Party Platform
Musk hosted a poll on X asking whether or not he should launch the America Party. After a few days, he announced the results and that he would be starting the American Party.
Although the America Party has launched, it doesn't have an official platform yet. Even so, ChatGPT summarized what the party might stand for. 'Elon Musk launched the America Party in early July 2025, positioning it as a centrist, fiscally responsible and tech-forward alternative to both Republicans and Democrats,' according to ChatGPT.
Check Out:
Potential Tax Impacts
If fiscal conservatism is the focus of the new party, it's likely to have some impact on everyone's taxes, especially if it ever gains power. ChatGPT claimed the new party tax policies might focus on the following:
Fiscal conservatism and deficit-focused: 'The America Party's platform likely emphasizes deficit reduction via tax restraint, potentially favoring higher taxes on wealthy earners, reducing loopholes or phasing out regressive tax cuts,' ChatGPT said.
Green energy and tech incentives: 'Expect the America Party to advocate for restoring or expanding clean-energy tax credits, R&D incentives and other supportive structures for sustainable tech,' the chatbot said.
Pro-business and tech-friendly tax reforms: With a potential focus on 'tech-driven, low-regulation attitudes,' ChatGPT predicted this could translate into business tax reforms, such as lower corporate tax rates and tax incentives for startups.
Potential Impacts Vary Across Households
If the America Party came to power and enacted its agenda, different households would see different impacts. '[Top earners] could face marginal increases if deficit-driven reforms target high-income brackets. But they may benefit from enhanced R&D or green-business credits,' ChatGPT said.
For mid-income families, the chatbot claimed they 'could see relief if payroll tax adjustments or retention of EV or green subsidies are part of the agenda.'
And for low-income households, the chatbot predicted 'direct gains likely from restored rebates, tax credits and possibly expanded earned income tax credit, contingent on the America Party's social policy platform.'
Likely Impacts Right Now
While the party's platform might be interesting, it's worth pointing out that it's not even on the ballot nationwide right now. Although the America Party is trying to get started, it's initially set it's sights on a few congressional races, which wouldn't immediately push the country toward its agenda.
'Minimal direct impact on your taxes for the short-term — unless America Party candidates win seats in 2026 and influence future bills, ChatGPT said.
The America Party is getting off the ground. While it's building out a platform, it has yet to win any elections. Until it gains real influence, it likely cannot influence tax policies or your taxes directly.
Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
More From GOBankingRates
7 Things You'll Be Happy You Downsized in Retirement
This article originally appeared on GOBankingRates.com: I Asked ChatGPT What Elon Musk's 'America Party' Means for My Taxes, Here's What it Said
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 minutes ago
- Yahoo
'Should We Pay Our Rent 2 To 3 Years In Advance?' Suze Orman Says No For 'A Whole Lot Of Reasons'
When times feel uncertain — especially during retirement — it can be tempting to lock in a sense of security. For one couple, that meant wondering if they should prepay their rent for the next two to three years using a work bonus. But financial expert Suze Orman says this move could cause more problems than it solves. The Question: Is Prepaying Rent a Smart Move? On a recent episode of the "Women & Money" podcast, Orman and her partner, KT, read a question from a listener named Linda. Linda and her wife, both recently retired at ages 73 and 70, asked whether they should use a recent bonus to pay several years of rent in advance. The couple already had $600,000 in a diversified investment portfolio and hoped to avoid drawing from it until 2028. Orman's answer? A firm no. Don't Miss: $100k+ in investable assets? – no cost, no obligation. Accredited Investors: Grab Pre-IPO Shares of the AI Company Powering Hasbro, Sephora & MGM— Why Paying Rent in Advance Can Be Risky "Rent is the keyword here," KT said quickly after reading the question. Orman agreed — and for what she called "a whole lot of reasons." One of the biggest concerns is that prepaying rent doesn't give you anything in return — it's not building equity like a mortgage would, and it doesn't improve the value of an asset. It's simply money spent, upfront, for a place you don't own. That can become a problem if your circumstances change. Orman isn't against renting itself. In fact, she's recommended it in certain situations. But handing over two or three years of rent in advance during retirement raises red flags. Here's why: Trending: 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. You can Life changes happen. Anything could happen to you or your partner over the next few years. If you pay now and plans change — due to health, relocation, or other circumstances — you might not be able to get your money back. Landlords can change too. "Who is she paying rent to?" Orman asked. "The landlord." Landlords can sell, pass away, or change the terms of a lease. That could complicate things — especially if rent payments were made years in advance. The money could work harder elsewhere. Instead of locking it away in rent, Orman suggests keeping it in a safe, interest-earning account like a money market fund. That way, it's still accessible if needed and earning something in the meantime. A Better Approach for Retirees Retirees looking to delay drawing down investment income may benefit more by keeping bonus funds liquid. Orman pointed out that even in volatile markets, there are ways to grow your money conservatively. "Just put it somewhere safe as your rent money, making money market interest rates," she said. "These markets still have a lot to go." In short, tying up tens of thousands of dollars in prepaid rent isn't just unnecessary — it could limit your financial flexibility during Line While paying rent years in advance might seem like a smart way to reduce future stress, Orman says it introduces too many risks. From changes in your own life to uncertainties with landlords, the safer strategy is to keep that money earning interest and available for when you need it. As Orman put it, "That's such a waste of money — I cannot even tell you." Read Next: Many are using retirement income calculators to check if they're on pace — Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article 'Should We Pay Our Rent 2 To 3 Years In Advance?' Suze Orman Says No For 'A Whole Lot Of Reasons' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
3 minutes ago
- Yahoo
Celtics minority owner reaches deal to buy Connecticut Sun for record $325 million, AP source says
UNCASVILLE, Conn. (AP) — A group led by Celtics minority owner Steve Pagliuca has reached a deal to buy the Connecticut Sun for a record $325 million and move the team to Boston, according to a person familiar with the sale. The franchise wouldn't play in Boston until the 2027 season. Pagliuca also would contribute $100 million for a new practice facility in Boston for the team the person said. The person spoke to The Associated Press on condition of anonymity on Saturday because the deal hasn't been publicly announced. The sale is pending approval of the league and its Board of Governors. The sale is pending approval of the league and its Board of Governors. ___ AP WNBA:
Forbes
5 minutes ago
- Forbes
3 ChatGPT Prompts To Launch A $2,000/Month Side Hustle
More people than ever are turning to AI not just to save time, but to make money. Whether you're a student, stay-at-home parent, or entrepreneur between launches, AI tools like ChatGPT can be more than assistants. They can be side-hustle partners. The key? Knowing how to ask the right questions. The side hustle economy has become a significant economic force. According to Side Hustle Nation, around 27-40% of working Americans currently have a side hustle, with participation exceptionally high among Gen Z (up to 48%) and millennials (44-50%). For many, AI tools are becoming essential for scaling these income streams beyond traditional hourly limits. Here are three specific ChatGPT prompts you can use to kickstart income streams that can realistically bring in $2,000 or more per month—with hustle, consistency, and a value-driven approach. ChatGPT Prompt 1: Turn Your Knowledge Into a Paid Digital Product Prompt to use: "Act as a business coach. Ask me 10 questions to help me identify the kind of digital product I could create based on my [insert: skills, hobbies, or experiences] Why it works: Digital products—like ebooks, templates, online courses, or workbooks—require upfront effort but can become low-maintenance sources of income. The secret isn't being a top-tier expert. It's knowing just a little more than your ideal buyer and solving a specific problem for them. The digital education market continues to grow as more people seek online learning opportunities. Course creators and digital product sellers who target specific niches often find success even without massive audiences. You don't need fancy software or a giant following. Teen entrepreneurs at WIT - Whatever It Takes, which I launched in 2009, have launched simple Notion templates, Canva toolkits, and even $15 guides—earning consistent sales by targeting niche audiences. Pro tip: Once the product is made, ask ChatGPT for Instagram Reel scripts, email sequences, and SEO blog ideas to promote it. ChatGPT Prompt 2: Build a Niche Freelance Offer With AI's Help Prompt to use: "I want to start a freelance side hustle using ChatGPT to help me deliver faster, better results. Recommend 5 freelance services that combine my [skills: e.g., writing, research, social media] with ChatGPT's capabilities. For the best one, walk me through a 4-step service delivery process and write a client pitch." Why it works: This approach allows for faster project completion without compromising quality. You could develop comprehensive social media strategies that combine human creativity with AI research, create professional resumes that blend personal insight with optimized formatting, or produce well-researched content that merges subject matter expertise with AI-assisted organization. For those developing their skills, AI serves as a learning accelerator. Pro tip: Ask ChatGPT to generate a complete client onboarding workflow, email scripts, and even your Fiverr/Upwork profile bio. ChatGPT Prompt 3: Launch a Local or Virtual Microservice Business Prompt to use: "Help me design a local or virtual microservice business that solves a specific problem for a niche audience. I'm looking for ideas that require a low startup cost and allow me to earn at least $2,000/month. Then give me a one-page business plan and 10 ways to find my first clients." Why it works: The internet loves scale, but the fastest way to start earning is often through local efforts. Small businesses across America struggle with digital organization, social media management, and basic tech needs. This creates opportunities for service providers who can bridge the technology gap. Think: pet waste removal, online tutoring, home organization, birthday party planning, or even "digital decluttering." You can offer these services in-person or virtually—and AI can help you brand, script, and market the business in a day. A WIT teen entrepreneur launched a virtual "tech organizing" service for overwhelmed parents, earning $600 in her first week by offering one-on-one Zoom sessions to clean up desktop files, Google Drive folders, and iPhone photo chaos—with the help of ChatGPT, which assisted her in scripting every step. Pro tip: Use AI to automate your booking emails, service FAQs, and social media captions. How to Hit the $2,000/Month Using ChatGPT These prompts are not a magic money machine, but each one is a shortcut to something powerful: a clear path, a repeatable service, and momentum. Here's how to stack your success: Start small, then scale – Sell one digital product. Take on two freelance clients. Serve three local customers. Don't wait to be "ready"—start. Use AI as your creative partner – Not your crutch. You bring the voice, the vibe, the vision. Let ChatGPT handle structure, polish, and suggestions. Rinse and repeat what works – If one template sells, make three more. If a service gets referrals, double your availability. Consistency is where the income grows. Track your time and value – Aim to earn at least $25–$50/hour on tasks. ChatGPT can help you increase your speed without lowering your standards. The $2,000/Month Mindset The side hustle economy represents both opportunity and necessity for many Americans. According to a Fox Business report, 61% of Americans with a side hustle in 2024 reported that they could not afford their lifestyle without their side hustle. However, motivations are shifting as economic conditions improve, with a growing share pursuing discretionary goals rather than survival needs. Don't get distracted by overnight success stories or six-figure clickbait. Focus on what $2,000/month can do for you. Pay off a credit card. Cover rent. Provide savings for school expenses. Fund your next big idea. With the right ChatGPT prompts, AI won't just save you time—it'll give you leverage. And that might be the most valuable side hustle of all.
