This kind of post usually devolves into a heady diatribe about the need for an informed electorate, and that's true. But besides that, a library is a cultural node. It is a community center - often the site of many organizations and activities. It promotes the arts to those often unlikely to encounter them. Today, it provides those who cannot afford it at home access to the internet. Turning that off is literally shutting them off from the mainstay of the new economy in which we expect them to compete.
It is, in short, a very, very bad idea.