Opinion: Keep the change. So they do.

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Generally, we think of political fundraising totaling sums beyond the imagination of those of us who actually read our paycheck stubs and try to live on a real budget. The estimates going into this election are that candidates will spend upwards of $1 billion just in the presidential race.

But this time, thanks in part to the internet and some fresh political faces, the campaigns are tapping into some very significant sums from small donors. Not small people but donors who give small amounts, often repeatedly.

The Times’ Dan Morain, an expert on political fundraising, explores this new phenomenon.

He finds, among other things, that nearly 30% of Barack Obama’s $58.6 million--some $16.55 million--came from donors giving under $200 in the first six months of this year. That’s more small donations to that one candidate than all the other Democrats combined.

According to the Federal Election Commission, 16% of the $300 million raised so far came from small donors. Such small donations are important collectively and because they enable campaigns to return to those donors again and again up to the $2,300 individual limit per election. And the donors’ names help enlarge the national lists of potential campaign volunteers.

Dan’s fascinating story can be found by clicking here and in Monday’s print editions.

--Andrew Malcolm