For example is my blog talking about Windows considered as Advertising? What about my blog discussing products we make? What about the web site for my local restaurant?
If I add my restaurant location to Google maps, is that advertising? Are review sites?
If I'm an aggregator (like booking.com) and I display the results for a search is that advertising?
I assume though you meant advertising as in 3rd party advertising. So no Google ad words, no YouTube ads etc. Ok, let's explore that...take say YouTube...
Can creators still embed "sponsored by" scenes? Can they do product placement?
Your suggestion is, unfortunately, not implementable. Leaving aside the merit for a moment, there's just no way that any politician can make it happen. Google and Facebook are too big, with too much cash to lobby with. And that's before you tell everyone that the free internet is no more, now you gotta pay subscriptions.
And, here's the kicker, even if you did force users to pay for Facebook and Google, it's still in their interest to maximize engagement...