Pre-heat the oven to 350°F and grease a 2-quart baking dish.
In a medium pot, over low heat, melt cream cheese and butter.
Stir in milk until mixture is smooth.
Add salt, pepper, corn and cayenne pepper.
Pour mixture into prepared baking dish and top with cheese.
Place in the pre-heated oven and bake until golden brown and bubbly; about 20 minutes.