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Too lazy. But I have analyzed data that suggest that IQ accounts for about 20% of income variation. Not trivial, but there’s a whole lot that IQ isn’t explaining. http://www.nicholaswolfinger.com/blog/2019/03/06/no-iq-isnt-the-magic-variable-that-explains-everything/ …
You're confusing explaining within group variance with between group. The first value is maybe 20%, but the latter value is close to 100%. That's the point of the Bell Curve regressions above.
