While debating the DISCLOSE ACT, Senator Charles Schumer said not putting limits on the First Amendment Rights of campaign donors jeopardizes Democracy:
Should there be limits on how much anyone can donate to a campaign or a SUPER PAC? Should large donations — or all donations — be made public?
MORE ON THE “DISCLOSE ACT”:
* The DISCLOSE Act would require any group that spends more than $10,000 on political advertisements to file a report each time it does so, and to disclose the names of donors of more than $10,000.
* Donors who specify that their contributions are not to be used for political purposes would be exempt.
* Republicans say that the proposed law favors unions because union members could give large numbers of small donations that would fall below the $10,000 threshold for mandatory disclosure.
* The Democrats respond by noting that the $10,000 threshold for reporting contributions applies to all groups and individuals and would not create an advantage for labor unions. [For example, the identity of all Fox News employees who donated less than $10,000 to a given SuperPAC would be shielded the same was as would the identities of all union members who gave less than $10,000 to a given SuperPAC]
[source: Test Vote for Bill on Political Donations Is Expected to Hew to Party Lines, By Alan K. Ota, Congressional Quarterly, July 13, 2012, http://www.cq.com/doc/news-4122102]