It is necessary for funding to vary by state. Each state has its own unique requirements and issues. The cost of living varies, as does the population. Also, teaching standards can vary. For these reasons, it would not make sense for each state to receive the same funding. As far as standards, since each state is autonomous, there should be minimum standards of education, but if states feel they can exceed those, it is not fair to the students of that state to be held back because of the lowest common denominator in poorer states. This is another reason why states might attract more citizens, based on their quality of education.
I would have to say yes that all states should vary based on their resources on how funding is budgeted. Though one part I would disagree with is that education standards should be equalized. Maybe one cannot happen without the other but that's the opportune view. States that have the ability to have funds for increased education deserve it.
When considering educational standards the local community should have a great deal of power because it is their children and community that will be impacted. Often broadly based federal mandates are difficult to translate into local school districts and we should all be aware of the problems inherent in having education be dictated by the state.
We all are "created equal" according to the Constitution of the United States, and therefor deserve equal opportunities. Living in a state where education is less supported and receives less funding will not turn out as many people achieving to their full potential. This is unfair, and some may say, unconstitutional (to a degree...).
All states should be held to the same standards and be provided equal funding for education. Allowing some states to either require more or less education and providing more or less funding only procreates the inequality that this country continues to foster and endure in education and out of that, economic status.
You have not lived until you leave Arizona with 4 children in various levels of public school, 2nd grade through 9th, and move to New York for a year. Wow. The standards New York has in place for public school blow Arizona's out of the water, in a good way. I have no doubt that my children learned more academic material in the one year they spent in New York classrooms than they've learned in any comparable two to three years in any Arizona classrooms. The main difference? New York state funds education, taxes everyone to pay for it(unlike here where all sorts of loopholes exist to pay nothing towards public education), and the kicker? They actually expect the students to learn something every single year. Crazy, right? I think having unified education standards for all of the United States would go a long way toward alleviating the differences in educational opportunity afforded to students that are determined by where their parents happen to reside, making education a priority throughout the U.S.