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President Obama takes to Twitter to chat about the impending fiscal cliff

December 3, 2012

President Obama spent about an hour this afternoon on Twitter answering a few questions about fiscal cliff consequences, proposals, negotiations and Chicago sports teams (you knew someone would ask).

Not surprisingly, there were no stunning new revelations on how Congress, particularly the Republicans, and the White House are going to keep us from doing a financial Thelma and Louise.

As soon as the White House announced the social media question and answer session, directly from the prez with his -bo online signature …

WH public fiscal cliff tweets My2k_bo announcement

… the #My2k hashtag, created by the Administration to collect stories of what the estimated average middle-class $2,000 in tax savings that could be lost without Congressional action, was flooded.

Obviously, there was no way that Obama could answer all the questions, which came as legitimate queries, as well as statements of support for the White House position and from the loyal opposition via @SpeakerBoehner, @MajorityLeader, @Heritage and individual conservative Twitterers (Tweeters?).

And as expected/suspected, the White House selected questions that Obama could easily answer — and yes, he did do the typing himself; the photos below of his hands (artsy!) and then of the president at his laptop got lots of retweets — in a way to lobby the public for his position that any fiscal cliff deal must include tax hikes on the wealthiest 2 percent of taxpayers.

Obamas typing hands during 120312 twitter fiscal cliff chat
Obama at laptop for 120312 twitter fiscal cliff chat
But the prez wasn't averse to using what some might call scare tactics, as evidenced when @soitgoesem asked about tax breaks for homeowners:

As a home owner, I worry deductions for home owners are at risk. Is that the case?

And -bo answered:

breaks for middle class impt for families & econ. if top rates don't go up, danger that middle class deductions get hit

Did Obama's Twitter chat change any minds, among the public or in the House or Senate? Probably not.

But he once again made it clear that he learned from a similar tax showdown earlier this year, when public pressure forced the GOP to relent and extend the employee payroll tax cut through 2012.

You can check out the official Q&A at @whitehouse or see it in chronological order saved via Storify.

You also might find these items of interest:

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The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic. 

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TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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