George Soros gives $1 million to support Obama

Michael Loccisano/Getty Images

(CBS News) Billionaire George Soros has donated $1 million to Priorities USA Action, a "super PAC" backing President Obama, a spokesperson for the group has confirmed to CBS News.

This is Soros' first donation to Priorities USA Action, though he announced $2 million in donations to two Democratic groups in May. He will also give another $500,000 to super PACs backing Democrats in Congress. Super PACs can raise and spend unlimited funds to influence elections, though they cannot legally coordinate with campaigns.

The New York Times, which first reported Soros' latest donations, reports that they were announced at a Thursday luncheon hosted by the Democracy Alliance, a liberal donor group, and headlined by former President Bill Clinton. The Times reported that others at the luncheon were expected to commit at least $10 million to Democratic super PACs.

Many wealthy Democrats, including Soros, have been reticent to contribute to super PACs, which some have criticized as a vessel for the flow of vast sums of money into the political process. Warren Buffett, for example, said he would not donate to super PACs because he did not "want to see democracy go in that direction." Republican super PACs outpaced their Democratic counterparts for much of the campaign.  Recently, however, some wealthy Democrats have been opening their wallets for super PACs.

Soros opposed the Supreme Court's Citizens United decision that paved the way for super PACs, prompting him to hold back on donating to them. But he told the Times that he had a change of heart after becoming "appalled by the Romney campaign which is openly soliciting the money of the rich to starve the state of the money it needs to provide social services." Soros' contributions still pale in comparison to his giving in the 2004 cycle, when he spent more than $23 million to influence the election.

Priorities USA Action is the group that produced an ad in May suggesting that Mitt Romney was indirectly responsible for the death of a steelworker's wife.

[RollotheNorman]

Way to go George!!!! But why not consider $100M? Maybe it would give Willard a stroke.

[tsigili]

The super pacs are used by both parties, and they are bad for the country, overall.

You can thank the Supreme Court for that stupidity.....and NO ONE ELSE!

[csshilton]

tb91006 you hit the nail on the head!!!! The reason I'm so disgusted, I saw the Samuel Jackson ad for Obama, f this and go f---ing vote. I knew this president didn't have much class, but he has hit a all time low.Looked it up and said theJewish Council for Education and Research were responsible for it. Do liberals believe we are that naive? Soros son and that Silverman woman are the organization.All of them should be ashamed of themselves, G-d have mercy if this man gets elected again!!!!!

[andie52]

Did the ad get your attention? that was the whole idea.

[jimbom121]

Were you disgusted when the original was released?

[jazzgrrl58]

Bless you, George. I just now donated what I could, too.

[paulstewart9]

What is Mitt's interest in the presidency? What is his vision? Does he really "Believe in America"? Why does he want, as he says, to "take the presidency"? Is he being honest? See here.

Truth is, Mitt is not the right man for the Presidency. He is not the business man he advertises. He is a pirate, dressed in a business suit! He started Bain to bust and raid the treasuries of umpteen hundreds or thousands of companies. And he's buried his treasure in the Caribbean.

Mitt's just doing what he does best - taking personal advantage of an opportunity. He's looking to buy the White House as his new home office. The Presidency can help create greater fortune for himself, for his family, for his friends and perhaps his Church. Once these super wealthy people corner America's money, they'll decide whether to trickle it down.

http://www.allvoices.com/contributed-news/12903382-michele-obama-and-bill-clinton-lay-out-at-the-rnc-just-how-much-obama-believes-in-america-does-mitt-romney-believe-in-america-or-something-else

http://www.allvoices.com/contributed-news/13017922-its-the-dishonesty-stupid

http://www.allvoices.com/contributed-news/13017922/image/94804771-there-you-grow-again

[unsatisfied321]

Soros can't stand the idea of Obama losing. Soros makes money off of systems like France, England and others. When ours becomes like theirs he'll move in and make millions then walk away laughing at our stupid, broken system that he milked dry as it killed over and died.

[askagain]

Do a Google search. There is much written about George Soros.

[jimbom121]

Yes, much has been written about Soros, but he has not personally profitted from Obama's policies...well except that the stock market has doubled in th last 3+ years.

[all-gores]

There's no reason for Soros to donate.

All the polls confirm Obama will win.

This stupid billionaire's money should be re-distributed to those in need.

[askagain]

Even if Obama were losing, he should not accept Soros's money. George Soros made his fortunes from the suffering of people throughout the world and his political ideas are very un-American. He puts personal financial gain before anything else. Soros should not be given the opportunity to influence our elections.

[askagain]

George Soros is like a double edged sword. His wealth was created by taking advantage of what he perceives as economic weaknesses in the economies of different countries. For example, Soros is credited with the near bankruptcy of Great Britain in 1992 and the Asian Markets in 1997. He is ruthless in that he doesn't care how much people are hurt by his actions as long it makes money for him. Soros also believes in an international government that dominates the world. He makes a distinction between his making money by taking advantage of a country's financial weaknesses and how countries can remedy the very same economic abuses in which he participates. Soros was even convicted of inside trading in France. Obama and the Democrats should treat Soro's money as "dirty money" and return it to him.

[Repubs_R_Fiscal_Liberals]

Soooo.... how much is that compared to what Adelson or the Koch Brothers have spent?

I really don't care, but I am curious.

[ThomasFriedman]

Click here to see Georgie

http://www.flickr.com/photos/87557112@N06/8014104614/