Bullying, harassing, and threatening people is not “free speech.” Children have killed themselves over bullying, and people who have been bullied in the past often have continuing psychological issues. The internet has made bullying far more accessible and pervasive.
An adult can be arrested and prosecuted for harassing and threatening others. It is nonsensical to shrug off the same behavior by children and then pour salt in the wound by telling the victims to just shut up and submit to the bullying.
While I understand your perspective, more laws such as this is not the answer. Where are the parents in all of this? Why do these kids have unfiltered internet access? Why do they need to be on social networking sites?
I have a 10 year old and a 13 year old. Neither have complete unfiltered access to the Internet and neither are involved in social networking sights.