New York Times: What’s the Matter With Miami?

For a couple of years after the pandemic struck, there was considerable buzz to the effect that much of the financial industry might leave New York for Miami. After all, state and local taxes on the richest one percent are much lower in Florida than in New York — about nine points lower as a percentage of income, according to the most recent report of the Institute on Taxation and Economic Policy (and taxes on the rich are even higher in New York City than in the state as a whole).

Read more.