Preheat oven to 350F degrees (if serving warm.)
In a large bowl, beat together cream cheese, chili powder, salt, pepper and salsa.
Spread mixture into an ungreased 9-inch pie pan (or similar size baking dish.)
Top with tomatoes, sliced black olives, shredded cheese and crumbled bacon.
At this point you can dig in with some tortilla chips or bake in preheated oven for about 10-15 minutes until warmed through and cheese is melted.
