I'm not entirely sure what your point is. You're not criticizing censorship. You're criticizing employers for wanting to project a certain image to their customers/clients. Censorship is actively being stopped from publishing a paper, article, artwork, or idea, by your government, employer, university, etc. But your employer still has a right to protect its public image, and an employee's anti-Semitic thesis may not fit in with that image.
As for putting photos of yourself drinking alcohol on Facebook, use discretion. By the time someone graduates from a 4-year university, they should have an understanding of what's acceptable in public, and what isn't. Social networks should be considered public if you don't know how to configure privacy settings. If you wouldn't drink in front of your boss, you shouldn't allow your boss to see that picture, because he or she can fire you and does not need to provide a reason (with a few exceptions.) In the US, every state is an "at-will employment" state (Montana has some extra rules I think. -- IANAL) Basically they don't need to give a reason to fire you, just like you don't need to give a reason to quit. (There is some fine print of course, and at-will employment doesn't cover discrimination.) Use the privacy settings. They make things private.
Also, what school (besides high school) is going to kick you out for putting up a picture of yourself doing entirely legal things? (Even high school would probably start with a suspension.) Colleges would need to hire an army of people to patrol social networks looking for photos of its students drinking or being promiscuous in order to combat it. What they're going to care about is a photo of you doing a line off the coffee table in the freshman dorms. And that falls under the whole legal thing. If you really want to put up that picture, use the privacy settings to make things private.
Finally, some colleges block porn. In this case, prior to transferring to another school, you could move off campus. Or you could use a proxy (unnecessary complexity, I realize.) That's about the only (somewhat) widespread form of online censorship universities impose upon their on-campus students. And even then, they can probably get away with it because it's the university's network. Although, if they use the DMCA safe harbor for ISPs (DMCA 512(a) I think) then I would propose they be held to the same standard as public ISPs regarding the censorship of their on-campus students. (Again, IANAL)
Perhaps you feel like losing your job or getting kicked out of school is insignificant because it's not the government executing you? I guess that's one way of looking at things.
Also, I do feel like losing my job is insignificant in comparison to the government executing me. But I guess for me, there's more to life than work... Like reading posts on Slashdot!