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The essence of Government is power; and power, lodged as it must be in human hands, will ever be liable to abuse. —James Madison, Speech in the Virginia State Convention of 1829-1830
Around a year ago, President Obama decided that the Federal Communication Commission (FCC) should regulate the Internet with his “Net Neutrality” catch phrase. Who can argue against “Net Neutrality?”
To the contrary, plenty of smart people had observed that government regulations are often power grabs to consolidate power in DC for the benefit of lobbyists and political elites. Harmfully, unnecessary and burdensome regulations restrict economic growth and freedom.
Thus, why regulate the Internet? The Internet has not been regulated for the twenty-plus years it's been existence. Millions and millions of people have access to more and more knowledge, ideas, goods and services. Nope, President Obama through his Democrats on the FCC regulated the Internet. The FCC has the power to determine “charges” and practices” that are “just and reasonable.” http://www.freedomworks.org/content/who-rules-internet-fcc-bureaucrats
Knowing regulations would reduce access to the Internet, Republican FCC Commissioner Ajit Pai dissented, and wrote. “The more difficult the FCC makes the business case for deployment—and micromanaging everything from interconnections to service plans makes it difficult indeed—the less likely it is that broadband providers big and small will connect Americans with digital opportunities.”
The Progressive Policy Institute, which usually supports Mr. Obama, estimated Internet service providers (ISPs) would reduce their investments between 5 and 12%. Recently, The Wall Street Journal reported that has already occurred.
Hal Singer of the Progressive Policy Institute found major ISPs reduced capital expenditure by an average of 12%, while the overall industry average dropped 8%. The reduced investments by the ISPs could be billions of dollars. This will limit the opportunity for Americans to access the Internet. Alas, Obamanet reduces freedom, knowledge, and opportunity for all Americans.
“Net Neutrality” was a political power grab to centralize power in DC. The losers are everyone, except big government bureaucrats and DC pols and their cronies. Freedom and prosperity has been wrongfully diminished. As James Madison warned, "The essence of Government is power; and power, lodged as it must be in human hands, will ever be liable to abuse."