President Obama's public stance that the FCC should reclassify broadband internet services as a Title II "common carrier" under the current Telecommunications Act carries many ramifications, but one is undeniable: there's going to be a hidden tax hike.
On one side: Comcast, AT&T, Verizon and the other companies you love to hate. On the other side: Google, Facebook, Yahoo, and the other companies you don't quite trust.
Federal Communications Commission Chairman Tom Wheeler yesterday was reported to have told major internet companies that the President's call for Title II reclassification was not the regulatory approach he favored for net neutrality.
This week, President Obama announced his administration's desire to have the Federal Communications Commission reclassify broadband internet service as a "common carrier" under Title II of the FCC's regulatory framework. This would, for the first time, open internet service providers (ISPs - Comcast, Time Warner, AT&T and others) to the same kinds of regulations that face traditional telecommunications services.
Spinning wheels of death.
Verizon argued Monday their constitutional rights are being violated by the Federal Communication Commission's 2010 Open Internet order, also referred to as the “net neutrality order.”
But, the latest analysis by the Small Business Administration (SBA) calculates that compliance with federal regulation costs a staggering $1.75 trillion annually - and, that is a 2008 pre-Obama Administration estimate.
Total employment at the conglomeration of federal agencies responsible for enforcing compliance with the myriad of laws now exceeds 281,000 people. That's an increase of 13 percent during a time when 27 million Americans find themselves unemployed, under-employed, or have completely given up even trying to find work. The budgets at these same agencies have increased 16 percent during the same period to over $54 billion.
The debt ceiling negotiations and debates over government spending have transfixed the nation for the last few weeks. President Obama’s call for a “clean” debt limit increase—one without spending reductions attached—was bound to fail from the beginning, as many House Republicans were elected on promises to bring the growth of government under control.
President Obama needs to reinvent reality, so where does he go? A college campus.
Bad News: Millennials, America's Largest Generation, Prefer Socialism Over Capitalism | Katie Pavlich