George Soros Returns To Political Giving At A Difficult Time In Global Politics

Despite the accusations often leveled at him by members of the conservative media, George Soros has not played a major role in U.S. politics during the 2008 and 2012 Presidential elections cycles, but has made a triumphant return to political giving in 2016. Soros made the decision to return to political donating in 2016 after viewing global politics as a major problem over the course of the the preceding years, including his feeling that a Republican President in 2016 would fail to protect the people of the world from the issues the hedge fund legend believes have been of growing importance. Although he backed the Presidential campaign of former First Lady Hillary Clinton, Soros was so concerned by global political events he made the decision to forgo the Democratic National Convention to keep a close eye of the problems facing refugees flooding into the European Union from areas of Syria and the Middle East.

Read more: https://www.project-syndicate.org/columnist/george-soros

According to Politico, George Soros was also concerned about the state of politics in the U.S. and decided his personal fortune should be used to create a better world for everybody, including the citizens of the U.S. Soros shares his citizenship with. The impact of President Donald J. Trump on global politics was seen as a problem by George Soros, who Soros accused of using racially charged rhetoric in a bid to divide the people of the nation and build tensions between people of different faiths. One of the major reasons Politico gives for the return to political giving of George Soros is his ability to encourage a range of other Democratic donors to give funding to the campaign of Clinton and other Democrats; after sitting out the 2008 and 2012 elections seasons, the return of George Soros has driven up donations from a range of high profile donors including Tom Steyer with $31 million for liberal causes in 2016 and fellow hedge fund expert Don Sussman who provided more than $13 million for Democrat’s across the nation. Read his profile at Business Insider.

There are few figures in global finance who can compare to the success achieved by George Soros, which Forbes states has given the hedge fund manager who started his career as a refugee in 1947 an estimated fortune of over $25 billion. Many financial experts first became aware of the success of George Soros in 1992 when his career hit the headlines in becoming the man who broke the Bank of England and made $1 billion in a single day gambling on the devaluation of the British Pound; Soros has not only returned to the political scene after eight years away he also took on a more active role with his own Soros Fund Management company and his charitable Open Society Foundations. Read this story at Politico.com about George Soros.

End Citizens United, Unleashing The Power Of Donor Partners

End Citizens United is a political action committee (PAC), established to support candidates and organizations, which advocate for campaign funding reforms. They endorse candidates that are against the decision by the Supreme Court to uphold Citizens United. That decision gives corporations increased power to pour “unlimited” amounts of money into political campaigns. This is referred to as “dark money.”

 

Because of his public positioning calling for transparency in political campaign funding, End Citizens United has announced their endorsement for Democratic Senator Sheldon Whitehouse. Whitehouse said that he would seek retention of his current seat in the 2018 mid-term Congressional elections.

 

Senator Whitehouse has been active in the public spotlight because of his concerns regarding “dark money” contributed to the campaign of Supreme Court Justice Neil Gorsuch. As a long time proponent of political funding transparency, Whitehouse wrote a book on the subject this year, entitled, “Captured: The Corporate Infiltration of American Democracy.” The emphasis is on making all political donations by corporations, traceable.

 

As a PAC, End Citizens supports Senator Whitehouse efforts to establish traceability. An array of factors can influence political donors, but the 2010 Supreme Court decision to support Citizens United has launched a new breed of PACs. The decision made it possible for any PAC to receive unlimited donations from individuals. These are now called, super PACS, and they’re what End Citizens United fights against. End Citizens has set cap limit of $5,000, which is the most any individual is allowed to donate.

 

End Citizens United earlier this year, during the first quarter, raised $4 million and that figure is projected to climb to the $35 million mark, prior to next year’s midterm elections. This information was reported and published in USA Today as publicly released fundraising details.

 

In 2016, End Citizens raised $25 million total. The current funds raised have far exceeded the previous year, as a results of concentrated grassroots efforts, which saw donations from 100,000 people in January, February and March. Of this number, 40,000 of these political contributors were first time donors. Many people say that the reason they stand firmly behind End Citizen United is because they believe that the political donor system is flawed and as one put it, “this is our way of fighting back.”

 

End Citizens United is seeing the benefits of political anger, because the impetus behind more donations this year is that Democrats are mad about Donald Trump. This momentum is fueling the recent surge in donations, evident even in the campaign of first time political candidates. One such person to benefit from the increased donor participation is 30 year old, Georgia Democrat, Jon Ossoff, who received $300,000 in support funding for his congressional debut.