The Internet and regulation of Political Speech

Ryan Sager has a couple good lines in his Tech Central Station column about regulation of political speech on the Internet, but he is a little lite on persuasive specifics. I agree with him, but if you don't this won't change your mind:

In comments submitted to the Federal Election Commission last week, as the regulatory body seeks advice on how to apply the McCain-Feingold law to the Internet, the enemies of the First Amendment had to walk a fine line. On one side, the politicians in them wanted to genuflect to democracy, open debate and all the new citizen journalists who seem to wield so much influence these days. On the other side, however, the clean-government obsessive-compulsives in them knew that freedom's just another word for something new to regulate....

Why, when the free market has gone and created the exact state of affairs the reformers have long claimed to desire, are the McCains of the world looking to crack down?

Because the reform movement has never been about freedom. It has always been about control.

I agree, but we need better arguments.