If you check out savetheinternet.org the idea of net neutrality is explained in much deeper detail. In order to offer an easy explanation i will briefly overview the mission of this site.
Save The Internet is a non-profit organization that is dedicated to keeping the massive communications companies from squandering the rights of its consumers. As we speak Comcast, TimeWarner, AOL, the Bell companies, and many others are fighting to take away the rights of the average internet user. Plans to charge a premium for "priority" traffic have been formulated, but have not yet been implemented.
The basic facts reside in the architecture and design of the internet. Originally designed as a method of networking between networks the internet evolved from one network into what it is today. This entire time, the traffic has been treated on a first first serve basis. All computer traffic is handled equally, by order of requests. TimeWarner and Comcast, for example have unveiled plans to offer a "priority" lane to the internet. They have offered to build a majority of the network that would needed to create another "priority" internet. Of course these companies have then requested the right to charge more fr this service, and ultimately give these higher paying internet users priority over the average user, in the end squashing the little guy.... yet again.
SaveTheInternet.org is fighting for a bill to be passed requiring that all traffic basically be treated equally. This concept is referred to as "Net Neutrality" in the context of official bills, proposals, and documents. This concept of Net Neutrality is essential to the fair playing of the internet. Without Net Neutrality, the people who cannot afford the "upgrade" internet will fall behind once again.
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