In my opinion, this is simply a power grab, america is attempting to assert its authority over that which has no hierachy of command (the internet). This is a underhanded insulting move by the Americans, attempting to make a kill switch for the internet that would cripple businesses around the world, if this bill passed, the americans could effectively take over the world, simply threatening to turn off the internet and destroy a nations economiy if it disagreed with them.
No one would dare challenge them, and so it would be a beach-head for other bill/legislations to be passed, gaining more control over other countries, via the net.
Its time we understand that the internet, although not neccesarily a physical weapon, can be the most dangerous thing around.
To be short. The internet; Fuck off, its ours. - Net Users.
Note: This may not make sense to many people, its past midnight and im tired as hell. Take what you want from this post.