  We present and analyze QCD corrections to the baryon magnetic moments in
terms of the one-, two-, and three-body operators which appear in the effective
field theory developed in our recent papers. The main corrections are extended
Thomas-type corrections associated with the confining interactions in the
baryon. We investigate the contributions of low-lying angular excitations to
the moments quantitatively and show that they are completely negligible. When
the QCD corrections are combined with the non-quark model contributions of the
meson loops, we obtain a model which describes the moments within a mean
deviation of 0.04 $\mu_N$. The nontrivial interplay of the two types of
corrections to the quark-model moments is analyzed in detail, and explains why
the quark model is so successful. In the course of these calculations, we
parametrize the general spin structure of the $j={1/2}^+$ baryon wave functions
in a form which clearly displays the symmetry properties and the internal
angular momentum content of the wave functions, and allows us to use spin-trace
methods to calculate the many spin matrix elements which appear in the
expressions for the moments. This representation may be useful elsewhere.
