Soros, Obama, and the Millionaires Exception

It is well-known that George Soros, the hedge-fund manager, major Democratic Party donor and anti-Israel crusader, has been a generous contributor to Barack Obama. But relatively few people realize that a loophole in McCain-Feingold allowed Soros his family members to be particularly generous in support of Obama's Senatorial campaign.Because Obama was running against Blair Hull in the primary and then Jack Ryan in the general (both multi-millionaires), Obama could, and did, receive especially large donations from individuals, to so-called "millionaires exception." Normally individuals are limited to giving $2300 to candidates in federal elections, but when candidates are running against millionaires, these limits are lifted and candidates are allowed to receive up to $12,000 from a single individual. Soros and his family gave Barack Obama $60,000. This does not include money that Soros was able to funnel to so-called 527 groups (Moveon.org, for example) that...(Read Full Article)

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