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Furthermore, the more bandwidth you use, the more you pay, so your water and electricity analogies do not exactly hold up, and I'm not sure what "it is, and always has been, about paying for access" means exactly... if your website is doing enough traffic, you are paying massive amounts to ISPs already. The difference, as I understand it, is that they now want to make you pay even more to ensure that your visitors will be able to reach your website quickly, while other traffic is routed through slower bottlenecks etc.
Still, your first commenter has a point too, I think. The telcos in the U.S. got all kinds of favourable deals from government, in part because they promised that everyone would soon have a super-fast connection they could use for phone calls and TV-style content and lots of other stuff -- and now they are asking to be able to charge more for something they were already supposed to be providing.
There are also reports that a substantial amount of the fiber-optic cable out there is still "dark," or unused, which would seem to refute the telecom argument that they need to charge more because the Internet is "full." I think you are right that we should be clear about what we're talking about, but that goes for opponents of "net neutrality" as well as its proponents.
The problem and solution don't add up: if AT&T is against the wall because all those 1.5mbps home users have suddenly started at *use* their 1.5mbps to watch videos and share wi-fi with neighbors, they need to figure out a way to appropriately charge for the unanticipated usage. Instead, they're suggesting that it's up to YouTube or Google Video to pay for the difference (which they already do!) and proposing double-dip schemes that prioritize traffic based on where it's from (Google, YouTube) instead of what it is (voice, bittorrent, video). It's a toll-road nightmare in the making.