Mr. Saez is a professor of economics at UC Berkeley and a John Bates Clark medalist.
The horse trained by John Terranova II and ridden by Luis Saez was at 37-1 odds.
Mr Saez argues that there was little reason to expect enduring change from the Great Recession.
ECONOMIST: No more than a temporary blip from the Great Recession
Brewer, Saez, and Shephard (2010) addressed precisely this question for the highest-income 1%.
We get very much the same answer from the Diamond and Saez paper on this very similar point.
FORBES: Why France's 75% Income Tax Rate Is Going To Be So Disastrous
Messrs Piketty and Saez also question the scale of the threat to growth.
On March 2nd Mr Saez updated his figures to the end of 2010.
ECONOMIST: No more than a temporary blip from the Great Recession
That could open the way for an independent, Irene Saez, a former Miss Universe who is now mayor of a Caracas neighbourhood.
Yet Jose Luis Saez, president of the Spanish Basketball Federation, told CNN on Thursday that people are wrong to suggest the photograph has racist overtones.
Economists who specialize in these matters, including Thomas Piketty, Emmanuel Saez, and Peter Diamond, typically argue that a marginal rate around 70 percent maximizes revenue.
The Berkeley web site of Emmanuel Saez provides the startling figures.
The error being that the Saez figures are market incomes only: and do not include even employment related benefits as long as they are not subject to tax.
They are expected to be joined early next year by Irene Saez, the Miss Universe of 1981 and now mayor of Chacao, an upmarket part of greater Caracas.
The economists Emmanuel Saez and Thomas Piketty have found that ninety-three per cent of the gains during the 2009-10 recovery went to the top one per cent of earners.
Last year two economists, Wojciech Kopczuk of Columbia and Emmanuel Saez of Berkeley, analyzed estate tax returns to calculate the fraction of the country's wealth held by its very richest citizens.
In a new NBER working paper, Thomas Piketty of the Paris School of Economics and Emmanuel Saez of the University of California at Berkeley poke different holes in the conventional view.
The Times also has a nice article about two economic rock stars, Emanuel Saez and Thomas Picketty, who have been extremely effective at putting together data and analysis on rising economic inequality.
Inheritance taxes are a minor source of government money, accounting for less than one percentage point of the 8-9% of GDP in revenues that Messrs Piketty and Saez estimate is raised by capital taxes.
The best information on the highest incomes comes from tax returns, thanks to work pioneered by two French economists, Emmanuel Saez and Thomas Piketty, together with a Briton, Anthony Atkinson, and an Argentine, Facundo Alvaredo.
Thomas Piketty of the Paris School of Economics, Emmanuel Saez of the University of California, Berkeley, and Stefanie Stantcheva of MIT argue in a new paper that this is why few studies have been able to show any significant long-term effect from raising top tax rates.
ECONOMIST: How to raise the highest rates without doing too much damage
Economists argue about the disincentive effects of higher tax rates. (Messrs Piketty and Saez, the economists who have transformed analysis of income concentration at the top, reckon, controversially, that the optimal top income-tax rate could be as high as 80%.) But no one doubts that there are trade-offs.
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