Soros to Spend Hundreds of Millions on Politics in Undisclosed, Tax-Deductible Dollars Even under Grassroots Legislation, Says GrassrootsFreedom.com.

(From US Newswire)

MANASSAS, Va., March 21 /PRNewswire-USNewswire/ -- The following is a statement by Mark Fitzgibbons and GrassrootsFreedom.com, regarding grassroots legislation currently being considered by Congress as part of lobbying reform:

"George Soros-financed Open Society Institute, a 501(c)(3) 'private operating foundation,' spent nearly $65 million financing mostly left-leaning 501(c)(3)s that engage in lobbying and/or public policy advocacy in just 2005 alone according to its tax return, IRS Form 990 available at Guidestar.com.

"The attached partial list of recipients of this 'largesse' shows the distinct political, lobbying and public policy purposes of these expenditures, including (1) influencing judicial nominations, (2) advocating for gay marriage, looser immigration and social security legislation, (3) taxpayer-financed elections and (4) gaining more ideological control of the news media.

"None of these lobbying and grassroots expenditures would be disclosed under the grassroots legislation written by lobbyists and being considered by Congress, even though the organizations that receive Soros' financing clearly 'influence' the general public and Congress to take action on policy, legislation and judicial nominations. Yet other citizen-supported grassroots causes communicating on the same issues would be required to track their expenditures, report them quarterly to Congress, and would be subject to civil and potential criminal penalties based simply on the exercise of their First Amendment rights, such as the right of citizens to petition the government.

"Also, this shows how billionaire donors get an indirect deduction for the actual lobbying conducted by certain nonprofit organizations, such as many that receive Soros' financing through his tax-exempt foundation.

"Open Society Institute had $859 million in assets, and generated nearly $13 million just in capital gains net income in that one year alone. It reported spending $624,046 just in legal fees. It is one of several foundations whose financing of the political agenda of Nancy Pelosi and the Democratic Party would not be disclosed under the grassroots legislation.

"Foundation-financed, Washington-based lobbyists are the principal proponents…