I always capitalize White, Black, Asian, Indian, Hispanic and Latino, etc. IMHO, the reason is much simpler and straightforward. These terms are signifying racial/ethnic categories and subcategories. You may consider Blacks to be saints and deserving of praise and cheers, and Whites as demons deserving only of opprobrium and insults, but that does not give you the right to change communication standards. If we can't all agree on some standards of language, we just become a collective Tower of Babel.

Uncapitalized, black and white are colors. But you are more brown, not black, and I am pink, not white. This is too much narcissistic thinking, too much pontificating.