Obama takes fiscal cliff fears to Twitter with #My2K

It's reminiscent of 1999, but with a new social media kick. President Obama is using the phrase My2K to spread fears about the fiscal cliff to the masses on Twitter.

The White House claims that if the Bush tax cuts are allowed to expire at the end of the year, the typical family of four will pay $2,200 more in taxes next year. The president wants to extend the tax cuts for the middle class, but eliminate them for the top 2% of Americans who earn more than $200,000 a year.

On Wednesday, he asked supporters to tweet the hashtag #My2K, describing what $2,000 means to their families.

Most families could save up to $2,200 if Congress extends middle class tax cuts. Use #My2k to share what that would mean for you.—
Barack Obama (@BarackObama) November 28, 2012

The White House fails to point out that even if the Bush tax cuts are extended, middle class families will probably pay higher taxes anyway.

As the payroll tax holiday expires, Americans making about $50,000 a year will pay another $1,000 in payroll taxes. Hardly anyone -- Democrat or Republican -- is talking about extending this measure.

The one tax increase neither party is talking about is the one that pays for Social Security #my2k huffingtonpost.com/2012/10/21/pay…—
(@kkaufhold) November 28, 2012

Nevertheless, the #My2K hashtag ended up trending on Twitter Wednesday afternoon, among both Obama supporters and critics.

Middle class tax cut would mean taking out less loans for grad school #My2K—
✨Rosa (@MrsL0ss0) November 28, 2012

#My2K Nearly 3 months of our mortgage.—
(@libsechumanist) November 28, 2012

If @BarackObama and his Liberal friends would have had a clue how to spend #My2K in the first place, we wouldn't be in this mess. #tcot—
Rick Canton (@rumblindurango) November 28, 2012

I will spend #My2k if I get to keep it. The 1% will put their tax savings in the Cayman Islands. Won't help the economy at all.—
Denise Ingram (@leclemot) November 28, 2012

Treating me differently than someone more successful is NOT #fair. I'd gladly give @BarackObama #my2k if he had a lick of economic sense.—
Staci R. Tawbush (@stacitawbush) November 28, 2012

Give a single girl #My2K and she will happily invest in shoes. We will grow this economy one pair of boots at a time.—
Danielle Cendejas (@dccendejas) November 28, 2012

I will gladly spend #My2k to get answers on Benghazi. #ObamaLibyaScandal—
Bruce Domes (@usarespnsblty) November 28, 2012

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