Perhaps the better way to think of wealth is as a proxy for intelligent, conscientious parents who care about educating their children. That is, the same qualities that make someone more likely to become wealthy are also qualities that promote academic success, not that wealth causes academic success.
> properly fund all public schools
Some of the worst-performing public schools in the nation are funded quite well, and the US nears the top per-student spending around the world[0], well above the OECD average. There is no amount of funding that can supplant parents who value education and a culture that values education.
[0]: https://nces.ed.gov/programs/coe/indicator/cmd/education-exp...