This well-meaning legislation has the potential to turn into regulations that limit what you can do with your Twitter feed, Facebook page, search, email, blog, purchases. The sales brochure on Senator Schumer’s webpage sounds harmless and reassuring. It aims to “combat online hacking”, and federalize online crimes. This sales brochure makes Senator Schumer appear so competent and earnest, its deceiving.
By the time 535 politicians, the gazllions of regulators, and the activists who influence the politicians and regulators get through with this proposal the Internet will be well-regulated. The new rules, and there will be plenty of them, will become obsolete in short order in a fast-changing commercial world. They will also halt the future unknown inventions and creativity to brought us Twitter, Facebook, and all the other technological marvels that await us. Just like the banks that are now ensconced in legislation that makes them too big to fail, more government rules freeze the existing world in place, inhibit new improvements, and stifle competition.