Ideally, with all things being truly equal and simple, this system is perfect. But something isn't quite right. Some people want affirmative action implemented. They argue that diversity is threatened and that less fortunate people have a right to an education. Others claim that life isn't fair and that those whining about it should just sit down, shut up and work harder.
Life truly fails to come remotely close to what is just and fair.
This equality never existed. Ideals are beautiful things to try to attain. But for some strange reason, whenever people try to implement some sort of social system in this world, things become a little strange. For example, Marxism tries to create a world of true equality and communal social order, but somehow communism developed with a very small elite lording over the masses, which was contrary to the original ideals of communism. It surely won't be perfect, but it's a beginning.