Your point is logically valid. Unfortunately, it falls into the "True But Useless" category. To simplify what you called a "scholarly" argument, it boils donw to one simple question we can ask to any impoverished white person anywhere in the world.

"Would you rather be a poor White person, or poor Black person in this country?"

In fact, I would argue you could ask the same race-povery question to any Latino or Asian anywhere in the world. You can argue about the intellectual privilige issue until the cows come home, but you can't get around what you yourself know. You can't decieve yourself for very long. Look in the Penguin mirror and ask yourself that same question. Don't answer it here. Answer it in the mirror in the privacy of your own mind. I won't even assume I know what the answer will be. Look in the mirror, ask yourself the question, would I rather be a White penguin, or a Black penguin in America? Then you'll know that neither income nor povery is the real issue.