My whole point is that the wealthy decide the future of humanity weather you like it or not, and they, do not like low IQ people.
So either nature will eliminate low IQ or the elite will.
What that means is that you and no one else can top-down decide which individuals in which situations will be worthwhile. It won't depend on just one metric such as IQ. Life is much more complex, chaotic, and higher entropy than just IQ.
Edit: even if were true that low IQ individuals are worthless to society, then they will be culled by nature and evolution will raise the IQ levels rapidly with natural selection. Nature is not as helpless as you seem to imply with your top-down proscriptions.
One-standard-deviation increase in childhood general intelligence (15 IQ points)
decreases womens odds of parenthood by 2125%... dysgenic fertility among women is
predicted to lead to a decline in the average intelligence of the population
An interesting back an forth. This is a deep and complex issues that is complicated by the horrible history of eugenics.
TPTB is correct in that no individual, government, or IQ test can top-down decide which individuals in which situations will be worthwhile.
This was the primary failure of Nazi Germany. They top-down defined what was superior "tall, blond, blue eyed and Aryan" and top-down decided that everyone else was inferior slated either for servitude or liquidation. The Nazi's subsequently liquidated millions of very high IQ Ashkenazi Jews, millions more high IQ "inferior Slavs" and their actions in the end lead to millions of German deaths. It is interesting but not surprising that everyone advocating for "elimination of the undesirables" places their group in the role of the superior cast.
Today we have vast social welfare systems that discourage productive work and encourages government dependence. A single mom in the US is better of earning a gross income of $29,000 then to earn a gross income of $69,000 due to the government benefits provided to low income mothers.

Our system discourages work and encourages government dependence. There are undoubtedly some individuals living off of government who are entirely incapable of a productive contribution to society. There is likely a much larger portion that is capable of some contribution to society who are currently following the logical path of government dependence as this is easier, less risky, and involves less work.
The argument that socialism is eliminates natural selection on the population is flawed as it assumes that our current models of welfare will continue as they are today. This will not happen. Social Security and welfare in the US date back to 1935. Medicare and Medicaid are far more recent and date back to 1965. These are historical blips. These programs are unsustainable and thus will end or more likely be significantly changed long before they result in a significant effect on population genetics. As government finances deteriorate they will continue to pay these obligations but will do so with increasingly devalued currency reducing the overall subsidy over time.
In regards to dysgenic fertility in high IQ women I believe this will also prove to be a transient phenomena. Right now we are living through perhaps the most profound shift in natural selective pressure since the development of agriculture 8000+ years ago. In 1960 the birth control pill was approved by the FDA. Since that time women who wish to control their fertility do so and women who do not desire children do not have children. This is unprecedented in human history and represents a profound shift in selective pressure from males to females. We have decoupled sex from reproduction and in doing so have displaced male success at sexual relations as the primary driver of human evolution. Today the primary driver of human reproduction is the desire of women to have children. A substantial portion of the female population is not adapted to the new environment and are in the process of selecting themselves partially or completely out of the gene pool. After a few generations this will leave us with a population that prioritize children and I believe that the trend towards dysgenic fertility will dissipate.