Plenty is doing.
"....Waller (1971) obtained the IQ scores of 130 fathers and their 172 adult sons, all of whom had been routinely tested during their high school year in Minnesota. The IQ's ranged from below 80 to above 130 and were related to social class. Children with lower IQ's than their fathers went down in social class as adults, and those with higher IQ's went up (r = .37 between difference in father-son social class difference and difference in father-son IQ). Such intergenerational social mobility has subsequently been confirmed (Mascie-Taylor & Gibson, 1978, J.Biosocial Science)."
Disclaimer: this quote appears here only to spark discussion. It is not endorsed one way or the other. Make up your own mind. Or just refresh the page for another viewpoint. From a collection assembled by the late Chris Brand.