and Southern welfare) flows of capital across borders, and insufficient investment located in the South. National income …

announced in Q1 2018 they would pay some portion of their tax savings toward workers. In terms of investment, we find that 22 …% of the S&P 500 firms in our sample mentioned in earnings conference calls that they would increase investment because of … payments to workers and plans to increase investment. Firms with a Political Action Committee that donates more to Republican …