Bruce Bartlett: The Case Against a Payroll Tax Cut - NYTimes.com: "It’s rare for Republicans to find a tax cut they don’t support, but last week The New York Times reported on just such an exotic creature. Many leading Republicans, it seems, are extremely cool to the idea of extending the temporary cut in the Social Security tax that took effect on Jan. 1 and expires on Dec. 31. It has lowered employees’ share of the payroll tax to 4.2 percent, from 6.2 percent."
How about just taking the income cap off and leaving the tax cut in place? It's a flat tax that conservatives should be able to support, right? My guesstimate is that taking the income cap off would increase revenues.