1. The SOPA/PIPA act will block internet rights and freedoms by having the government censoring the internet similar to how its currently in China.  
 
2. Internet companies would monitor users activities online including what you post on social media, videos, pictures, links to websites etc. "That’s why AOL, eBay, Facebook, Google, IAC, LinkedIn, Mozilla, Twitter, Yahoo, and Zynga wrote a letter to Congress saying these bills “pose a serious risk to our industry’s continued track record of innovation and job-creation.”  (Google 2012 https://www.google.com/landing/takeaction/sopa-pipa/) 

3. It WON'T stop piracy. These censorship regulations won't shut down "pirate" sites, they will just pick up and move the site to another server and start over (most websites have back up servers and information loaded on a drive online to allow the site to instantly re-publish within minutes). These websites should not be a issue of the US government we can not control these site as most of them are domestic. If they believe this is a huge concern they need to take into factor of the OPEN act. It is was rumored that during the black out last Wednesday file sharing site; Megaupload was temporary shut down in protest of this law. Other sites like Google "blacked out" for 24 hours in protest. 

** Information was summarized from Google 2012  https://www.google.com/landing/takeaction/sopa-pipa/**

This would in my option, be wrong and illegal since it's pretty much violating our first amendment right of "Freedom of Speech". I don't see how they government feel that internet censorship is it "top priority" when there are so many other issues that are more important issues. President Obama already stated that he'd veto the bill and congress was in deadlock last week and due to the protesting we helped change/influence those officials who we're either against or undecided. They vote on it actually today 1/24/12.
 67 top sites against the SOPA/PIPA among the growing list added: (Google 2012 https://www.google.com/landing/takeaction/community/)

 
  1. AOL
  2. Boing Boing
  3. BuzzFeed
  4. CloudFlare
  5. Copyblogger
  6. ConsumerBell
  7. Creative Commons
  8. Curse
  9. Daily Kos
  10. deviantART
  11. Disqus
  12. DreamHost
  13. Dyn
  14. eBay
  15. Embedly
  16. Engine Advocacy
  17. Entertainment Consumers Association
  18. ESET
  19. Etsy
  20. Facebook
  21. Fantagraphics
  22. foursquare
  23. Gandi
  24. Google
  25. GreenHostIt
  26. HostGator
  27. Hover
  28. I Can Has Cheezburger?
  29. IndieGoGo
  30. Internet Archive
  31. Irregular Times
  32. Jive Software
  33. Kaspersky Lab
  34. Kickstarter
  1. LinkedIn
  2. MetaFilter
  3. Mozilla
  4. Name.com
  5. Namecheap
  6. OpenDNS
  7. O’Reilly Radar
  8. Pastebin.com
  9. Path
  10. PayPal
  11. Quora
  12. Rackspace
  13. Reddit
  14. ReferralCanday
  15. Riot Games
  16. ServInt
  17. Scribd
  18. Teachers Pay Teachers
  19. Techdirt
  20. Torrentfreak
  21. Tucows
  22. Tumblr
  23. Twitter
  24. Ubu Web
  25. Uservoice
  26. Vimeo
  27. Webs, Inc.
  28. Wikipedia
  29. WordPress
  30. Yahoo!
  31. Y Combinator
  32. Zopim
  33. Zynga Game Network