I've always wondered what the employment / income benefits for a degree are once you account for intelligence. It seems to be that there is a lot of schooling that goes unused.
I think you've pointed out the elephant in the room. In America it is politically incorrect to believe that some people might not have the cognitive capacity to excel in college and in jobs requiring college degrees. Every American is above average. If each citizen is not Bill Gates, it is because they are the victim of circumstance. Other people held them down, the system failed them. The successful must be condemne…
What fleitz seemed to be pointing out is that it is necessary to examine to what degree college actually benefits the intelligent as well.
edit: also, it's funny you used Bill Gates considering he dropped out of college.