"Congress has all sorts of rules, hedge fund managers, private equity managers, executives, movie stars, fall into that allow them to escape or defer into the future not paying their taxes. And if you can defer your tax into the future, it's the best deal in the world, because you don't just get to eat your cake and have it too. You get to eat your cake and have a bigger cake."

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A very good friend of mine spent a fair amount of time doing postmortems and met with a number of the senior folks on the Romney campaign and they spent, what was it, $140, $160 million on data. And this friend of mine, who is a very sharp thinker, asked a series of questions, but the most important one he asked, he said, "What decisions did you make differently because of the data?" And he's coming from the private equity world where he wants to know, OK, and the answer from virtually every single senior Romney person was "nothing."

— Ted Cruz