I agree with you that socioeconomic status is probably a better indicator than race.

As an aside, I have a pet peeve about the term "White Trash". It implies that "trash" in its natural state is usually a color other than white. It irks me almost as much as the n-word, yet it seems to still be generally PC to use the term.
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"It's just a song." (c)Goodie Mob

"Once you've won the rat race, will you still be a rat?" (c) Me

"Don't go losing your today hiding your soul in your solitude." (c) Zap Mama

"Life's a b***h, then you die; but for now, Life, close your eyes and feel this d**k." - Jay-Z

"I think we may be integrating into a burning house...We'll have to become the firemen." - Martin Luther King, Jr. (speaking to Harry Belafonte)