I'm pretty sure wget is reporting kiloBYTES per second, not kiloBITS per second (hence the capital K) - you'd multiply times 8 to get the kbps. I'm bad at math, but that's actually about a megabit (pretty fast)... and this limitation is probably on your connection.
From a pretty well connected machine, also in LA:
$ wget veggiechinese.net/vernon_dacosta_remix.mp3
Resolving veggiechinese.net... 184.108.40.206
Connecting to veggiechinese.net|220.127.116.11|:80... connected.
HTTP request sent, awaiting response... 200 OK
Length: 12,314,280 (12M) [audio/mpeg]
100%[====================================>] 12,314,280 600.33K/s ETA 00:00
14:47:03 (609.15 KB/s) - `vernon_dacosta_remix.mp3' saved [12314280/12314280]
(that's about 5 Mbps)
This site can do the calculations.