Is text talk degrading the English language?

Is text talk degrading the English language? You may here people saying that what amounts to a miniature language consisting almost entirely of acronyms can't be good for the English language.

I disagree. English in it's modern form is essentially an amalgamation of various dialects of Spanish, French, German, Russian, Chinese, Japanese just about every language an English speaker has come into contact with has in some way or another been incorporated into the soup that is English. Imagine, if you took and English speaker from the middle ages, and dropped them into modern times, they would essentially have to learn an entirely new language, the same is probably true for some one from just 200 years ago. Some of you might say that English hasn't had to contend with all these acronyms before. You would be wrong, for the past hundred or so years, various governments and company’s have been abbreviating the various ungainly names of things (IBM, FBI, DARPA, etc.), so abbreviating commonly used words and phrases is the next logical step. So how prey tell can one degrade a language, that is in a perpetual state of change? And with that thought, dear reader, I bid you a hearty ttyl.