Common misconception, sadly untrue. There are known genetic predictors of intelligence, they're just not simple genes that the layman can wrap his head around.
All the same, I guess I am out of date (in 2017, they were getting 1% - perhaps in 2030, they will be up to 50%? Or back down to 2%?)
In general, I don't think there's any problem with saying some traits we call intelligence are heritable and that has a genetic component. I'm less sympathetic to the idea that intelligence is a simple scalar (the Q in IQ) or a quantity that should be used to prejudge candidates for given technical or social tasks. I mean, if somebody is good, does it matter that they are dumb as hell? I certainly would rather a talented dumbass than a useless genius as a coworker.
The difference between a society with an average IQ of 100 and a society with an average IQ of 70 is one of intelligence. That's why, for example, any policy that allows emigrations from IQ 70 societies to to Western countries, which usually average around 100 IQ, is a bad policy for those Western countries.
> The genetic variation across one race (say black) is much greater than the variation between races.
Why did you say that? Are you implying that there must be a wider range of IQs among various ethnicities within a race than between races? That's not a logical conclusion. Do you have some other chain of logic in mind?
By the way, I only use the word race loosely. I really mean ethnicity. Although the findings do still broadly apply to the classic 3-ish races.
No, ethnicities are absolutely not just administrative or cultural groupings. You've clearly done no research into this topic whatsoever and are just repeating some misinformation you got fooled by. Even the classic races which are unnecessarily crude by modern standards do actually partly correspond to distinct genetic groups. We can now classify ethnicities at a much finer level of detail and they're still distinct genetic groups.
Ironically given the article this is under, IQ was considered to be dirty Jewish science by the Nazis, probably because it showed Jews to be superior.