If you value anything you put up on LiveJournal and the Internet, you will click this. They're threatening to give websites like LJ copyright rights to anything we put up on the internet, meaning anything you publish wouldn't be your property. This isn't just a problem for people living in the US, it would be a WORLDWIDE issue if it went into effect.
Please please please read this and go to the petition site. This is what we have to do to protect ourselves. There is no reason to enact this bullcrap, let's make sure they don't.