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At first I laughed. Then I just got kinda sad. Are we doomed to be collectively held back by a significant portion of the population with a poor education or is it possible to lift everyone?
Historically, there have been moments of very rapid literacy, so just to answer the question - is it possible?, yes. The question is more of when does literacy become relevant o everyday life, if the literature is made relevant then people will learn. This is even true on a smaller scale in the classroom, even with all the challenges of education
The smarter you are, the less likely you are to want kids or have "accidents", and even if you do, you won't have many.
Spot the bad trend.
Exception: Rich people have kids regardless of how smart they are.
This is another bad trend.
We're not quite at Eloi and Morlocks yet, but given how things are at the moment, I think we'll be there sooner than H.G.Wells thought.
I really don't think genetics have much to do with the current populations' intelligence compared to many generations prior. There's simply not been enough time evolutionarily speaking to make a difference I would say. Basically all of recorded history is a blip when considering evolution on a longer time scale.
Education and a stable, fruitful upbringing is what makes smart people if you ask me.
But I'm mostly basing this on a gut feeling or a hunch, not really anything rigorous.
You just described the premise of the movie "Idiocracy"
Or The Time Machine, hence the Morlocks and Eloi comment.
Not even close.
Stupid people breeding while smart people don't was not a part of HG Wells vision.
Edit:
Also the morlocks would have been the smart ones if we follow this reasoning.