I can't hire for things that 'cause' such increases, I can only use presented-information to make a best-guess about how an employee will perform.
Having a degree is a good indicator that you'll work hard and be disciplined. If I have to break a tie between two candidates, things that show levels of work/discipline/* will help me break the tie.
Again, that's perfectly fine and reasonable in individual situations. It's also not an argument for society getting more education as a whole. The tie-breaking for you is the same whether it's between high school diploma vs bachelor's degree, or a bachelor's vs master's. Making the high school degree holder get a bachelor's and the bachelor's get a master's doesn't help society as a whole.
Having a degree is a good indicator that you'll work hard and be disciplined. If I have to break a tie between two candidates, things that show levels of work/discipline/* will help me break the tie.