Here’s what’s making the rounds on Capitol Hill:

Taxes:  Representative Jan Schakowsky (Democrat – Illinois) introduced HR 1124 – a measure that, if enacted, would institute new and higher income tax brackets for Americans earning more than $1 million.  Those earning between $1 million and $10 million would pay a confiscatory 45% while those making $1 billion or more would pay a usurious 49%.

Savings: A bill (HR 529) introduced by Representative Lynn Jenkins (Republican – Kansas) would make §529 college savings plans more attractive.  If enacted the measure would allow plan funds to be used for computers and would establish employer matching programs.  In addition the proposal would expand to 4x/yr the number of permissible adjustments to investment allocations.

Social Security:  It’s unclear whether this is grandstanding, pandering for votes or an attack on Constitutional freedoms but Senator Bernard Sanders (Independent – Vermont) last month proposed legislation that would quash free speech.  If the honorable Mr. Sanders get his way any member in the Senate or House of Representatives would be declared “out of order” if he or she proposed an increase in the retirement age or a reduction of benefits.  The Chinese may believe crushing dissenting voices into muteness is an effective governing measure but it is figuratively and literally un-American.  Are you listening Vermont voters?  This is YOUR legislative representative.