Don’t forget that your employer has to match those SS taxes, so they are going to be in a world of hurt too. (Just a reminder for those who think that their employer can “make them whole” with a salary increase.)
The employer side never went down during the payroll tax “holiday” that side was always 6.2% while the employee side had been temporarly 4.2 down from 6.2.
Of course now employers have to deal with Obamacare...