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Politics : Don't Blame Me, I Voted For Kerry -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (37443)	7/24/2004 2:38:18 PM
From: stockman_scott	Respond to of 81568

What Kerry needs in Boston cnn.com

To: American Spirit who wrote (37443)	7/24/2004 2:47:29 PM
From: stockman_scott	Read Replies (1) \| Respond to of 81568

Anti-Bush donors help Kerry close funding gap ________________________ By Caroline Daniel in Chicago and James Harding in Washington The Financial Times Published: July 24 2004 5:00 news.ft.com Democrats head to Boston this weekend to prepare for their national convention poised to be the unlikely financial winners of this year's fund-raising effort. The unprecedented financial resources amassed to oust George W. Bush from office are in part a credit to Democratic challenger John Kerry's fund-raising prowess - but also to a less publicised group of multi-millionaires who have given huge sums to political groups seeking Mr Bush's defeat. Mr Kerry set out yesterday on a symbolic journey to the Democratic National Convention, starting at his birthplace in Colorado before heading over the next five days through swing states such as Florida, Iowa, Pennsylvania and Ohio. Mr Kerry's campaign remains less well-funded than Mr Bush's. In the overall election cycle, which runs from the 2002 mid-terms to polling day on November 2, Republicans maintain a financial lead. But Federal Election Commission data show that the Democrats have out-raised the Republicans in this election year. The last time they were in this position was before Bill Clinton's victory in 1992. In addition, the latest figures from the Internal Revenue Service signal that the Democrats and their allies enjoy a meaningful financial lead over Mr Bush and his party, courtesy of a few big ticket donations to so-called 527 groups. Groups sympathetic to the Democrats have dominated 527 fund-raising - 527 refers to the number in the tax code that has enabled these tax-exempt organisations to engage in political activities, such as paying for advertising and operations to mobilise voters. Of the 25 top donors to 527 committees, 22 gave money to Democrat-leaning causes, two to Republican causes and one to environmental groups, according to data from the Center for Responsive Politics. Just 2 per cent of the $57m raised by this group has gone to the Republican cause. The top three donors, Peter Lewis, a Cleveland businessman, George Soros, the hedge fund manager, and Steven Bing, a film producer and heir to a $600m real estate fortune, accounted for more than half of the money given by the top 25 donors. The rest of the group contains heirs to some of the biggest family fortunes in the US. The 527 organisations, such as America Coming Together, the Media Fund and MoveOn.org, are legally independent of the Democratic party. But the Republican party for months sought to outlaw the groups, claiming they exploited a legal loophole and contravened the campaign finance laws that banned big ticket donations from wealthy individuals, unions and corporations. Independent of the 527 fund-raising, Mr Kerry and the Democrats have drummed up more financial support than Mr Bush and the Republicans this year: $292m for the Democrats, $272m for the Republicans. Terry McAuliffe, chairman of the Democratic National Committee, said: "We have never gone into the convention in the lead as a challenger. Never, ever. And we have clearly never gone in this well financed."