Mayor Levine's recent comment about Miami Beach being a tax haven, a "Monaco" if you will, for Wall Street finance types, and thus angering the tech scene when he dissed them in the process, sort of makes sense and then again sort of doesn't in light of this news: all those Wall Streeters are going to Palm Beach!
They've got the same cheap-ass taxes that we do, and hell, it's the land of money. Nay, it's the land of old money. But technically this whole state has that 'tax haven' appeal, so Palm Beach might be the place to the J.P. Morgans of the world, but maybe Miami Beach will be the anti-Palm Beach, where the cool kids go when they get tired of doilies, pretty much as it has always been.
· Why Palm Beach, Florida is the 'New Greenwhich' For Wall Streeters [Business Journal]