You're arguing that 60 year old politicians are intentionally keeping 10 year olds dumb so they don't replace them in the power structure 20+ years later?
I still don't buy it. I've interacted with people with (lots of) money. Their viewpoint on education is that they want highly-educated people who know how to do math and program computers and design rockets to mars that they can pay to work in their factories. They're not "afraid" of an educated populace, but they don't want to pay for one either.