Of course, there are always counter examples. A stuck clock is right twice a day. And someone always wins the lottery. Stats don't lie though, parents income and education is highly correlated with their childrens' success (and apparently even brain development). So you know one person who overcame poverty - how many people do you know with a pretty typical middle class family who are about as successful?

Suppose that we were to play a game - you are given two people, A and B, and the following information about their parents: income level and education level (name of degree/diploma(s) and schools). Do you think that you could come up with a strategy for guessing which person - A or B - will make more money at age 30, that would do better than just flipping a coin?

Formal education does offer you huge benefits. I walked out of school into a job paying many times minimum wage - I got the job because I did well on the interviews, but I got the interviews because I have a degree. Is this fair? Probably not, but it is the reality of the situation. And I do feel like I learned a ton in school. Of course, there are problems with the education system, but that's another discussion.