Degrees are important for some people. Others are just born industrious and probably won't need anything like that (Though I'd never discourage it!). Hell, I dropped out twice and ended up getting my diploma in an alternative program (And that's just high school!!). Most of my class is working at Micky D's and I make money through my own means, on my own time, and I'm not flipping any processed meats, or on anyone's clock.
However, I do plan on getting my degree in audio engineering, and I think school is important for that because I obviously don't know everything there is to know about that sort of study.
It just depends on what you're going to go to school for. Honestly, I'm probably never going to get a business degree but I run several small ones, and I'm pretty confident that I can run at a bigger level if I decide to devote all of my time to it. Oh and my parents are dead broke so I wasn't born into an inheritance or anything. :S