I'm afraid I fail to see the critical importance of "protecting" our kids from "privacy invasions." Why is it any different when a kid is asked for identifying information or preferences? If parents are upset by this enroachment, they can always instruct their kids not to fill out these forms, or they can even boycott the companies involved.
But I'm personally angry that the government sees fit to throw entangling legislation at businesses. In placing this burden of checking ages and/or seeking parental permission for marketing info, this raises transaction costs, and in doing so, will likely result in higher prices for goods and services on the web.
There are valid things to protect children from on the web... pedophiles, stalkers, and so on. But you know what? We already have laws on the books against those kinds of behaviors. Let's not run and make new laws just because it's politicall popular.
Thanks for reading.