Over the decade from 1994-2004 the major telephone companies profited from higher phone rates paid by all of us, accelerated depreciation on their networks, and direct tax credits an average of $2,000 per subscriber for which the companies delivered precisely nothing in terms of service to customers. That’s $200 billion with nothing to be shown for it.
Ira, who lives in Yokohama, Japan, has 100-megabit-per-second fiber-optic Internet service in his home. This costs Ira less than $30 per month. What the heck is up with that? Ten years ago, the United States had the fastest and cheapest residential Internet service in the world. Today U.S. residential Internet service, especially broadband, is among the slowest and most expensive.