In my circle of friends the tradesmen are doing much better financially than the college educated. Even though my friends who chose the trades are from poorer backgrounds. I myself am a high school drop out who is able to single handedly support a family and own my own home. (The great thing about compliers is they don't care how educated you are) As far as I can tell meritocracy is working. It would seem to me having the state try and make things "more fair" will very likely result in the opposite.