> And parental education, race, and household income are also all correlated with one another...
That's true.
> This is not the gotcha that you think it is.
But your point makes the guy I'm responding to look much worse. After controlling for parental education, the effect of parental income is radically diminished. Most of that 0.36 correlation is just confounding. Parental education isn't even a great indicator itself; it's a proxy for intelligence. It's just a much better proxy than parental income is.
That's true.
> This is not the gotcha that you think it is.
But your point makes the guy I'm responding to look much worse. After controlling for parental education, the effect of parental income is radically diminished. Most of that 0.36 correlation is just confounding. Parental education isn't even a great indicator itself; it's a proxy for intelligence. It's just a much better proxy than parental income is.