SOPA, PIPA and ACTA?

I'm actually using that title just because it's what happening around the web right now. I don't intend to elaborate more about those stuff. Maybe because I don't know how actually it will effect us. From my understanding, the law proposal is only in the USA except for ACTA though. I understand that ACTA is bigger than SOPA but I still don't understand how will it effect the Internet Generation. I notice many dramatic response when SOPA and PIPA was in the middle of confirmation process and ..... I'm actually a bit confused. The big question is, is it really that bad? If it is, in which side? Think about it.