By David Rosen and Bruce Kushnick
Since 1991, the telecom companies have pocketed an estimated $320 billion — that’s about $3,000 per household.
This is a conservative estimate of the wide-scale plunder that includes monies garnered from hidden rate hikes, depreciation allowances, write-offs and other schemes. Ironically, in 2009, the FCC’s National Broadband plan claimed it will cost about $350 billion to fully upgrade America’s infrastructure.
The principal consequence of the great broadband con is not only that Americans are stuck with an inferior and overpriced communications system, but the nation’s global economic competitiveness has been undermined.
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