From libertarian Michael A. LaFerrara:
Proposed NJ legislation would “force . . . political organizations that raise money to influence elections and policy in New Jersey” to disclose their donors’ identities (Susan Liveo, N.J. lawmakers ready to change law that lets ’dark money’ donors keep their identities secret). But anonymity can be crucial to political advocacy, and was used throughout history by activists to avoid harassment and intimidation by governments, political opponents, and thugs. Revolutionary era advocates of independence remained anonymous to shield themselves from British reprisals, as did 20th Century Civil Rights advocates to shield them from private and political intimidation. And as Liveo reported, New Direction New Jersey, a political activist group, refused to disclose its donors due to “attacks from powerful special interests.”
Spending is integral to speech. Anonymous spending equals anonymous speech.