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Friday, December 05, 2003

Soros explains his contributions
in today's Washington Post.

I have scrupulously abided by both the letter and the spirit of the law. Both America Coming Together and the Voter Fund are "527" organizations -- referring to Section 527 of the tax code -- which are entitled to receive unlimited contributions from individuals. Both groups are fully transparent about their motives and activities. Both file detailed and frequent reports with government regulators.
President Bush has a huge fundraising advantage because he has figured out a clever way to raise money. He relies on donors he calls "Pioneers," who collect $100,000 apiece in campaign contributions in increments that fall within the legal limit of $2,000 a person, and on those he calls "Rangers," who collect at least $200,000.

Many of these Pioneers and Rangers are corporate officials who are well situated to raise funds from their business associates, bundle them together and pass them along with tracking numbers to ensure proper "credit." They are buying the same level of access and influence for their corporate interests that they previously obtained with their own and corporate funds. With the help of Pioneers and Rangers, President Bush is on track to collect $200 million.

To counter the fundraising advantage obtained by this strategy, I have contributed to independent organizations that by law are forbidden to coordinate their activities with the political parties or candidates. That law minimizes or eliminates the ability to purchase influence in exchange for my contribution. Moreover, I don't seek such influence. My contributions are made in what I believe to be the common interest. ACT is working to register voters, and MoveOn is getting more people engaged in the national debate over Bush's policies.