The February 20, 2013 Forbes has a very thoughtful essay by Angelo Codevilla titled, "As Country Club Republicans Link Up With The Democratic Ruling Class, Millions Of Voters Are Orphaned". I highly recommend that you read it. His point is that the Republican Party is increasingly divided between much of the leadership, who are trying to become part of the ruling elite class (which is primarily Democrats), and what he calls the "country party": the largely conservative mass of the population (including many people who identify themselves as Democrats) and perhaps 2/3 of Republicans in Congress.
Many of us no longer have any significant representation in the political system because so much of the Republican Party is either trying to be part of the mandarin class who imagine themselves well-educated, when they merely attended elite schools, or have been to some extent co-opted by the elite system of wealth, patronage, and government promotion of corrupt, semi-fascist capitalism. (And yes, at times, Rep. Labrador shows signs of being co-opted by these same forces -- the ones that keep insisting that there is a severe shortage of high-tech workers, and therefore we need a lot more foreign workers here on H1B or permanent resident status.)
I understand the reasoning of those who argue that a third party needs to form: a party committed to a smaller, less intrusive national government, one that balances its books by cutting spending, and returning more authority to the states. But starting third parties that actually take power is really hard; the last success in the U.S. was before the Civil War. Is there a way to perhaps drive the the country club Republicans out of the party?