That transparency could somehow inhibit democracy is a dangerous idea, one that in fact threatens democracy itself.
As if theU.S. Supreme Court's Citizens United ruling — which essentially lets the political voices of a select few in this country rise drastically above all the rest — weren't undemocratic enough, now we need to maintain the anonymity of those voices as well? Why? Because if we don't, their companies might be boycotted and their phone lines might be bombarded with contrasting opinions?
If big donors have no interest in being publicly lobbied or rallied against politically, they should not put such massive sums of money toward political causes.
Transparency in democracy, especially now, must be protected; it is the very tenant on which an informed electorate stands.