For white people with only a high school education, life in the US has become slightly worse each year since 1973. For them, there is no American Dream. Hard work is no longer enough.
My ancestry is caucasian, and I have a high-school diploma. My life is much, much better than that of my parents in 1973. I am in the top 17% based on income. And my income is from wages, not from investments or annuities or anything else.
For them, there is no American Dream.
No American Dream, really? How do you define the American Dream? Owning a home, providing for your children, giving them an opportunity for a better life; all of those are possible and achievable. Does not being white improve those opportunities? I don't think so. Does having post-high school education? Yes, but it doesn't mean that it is not otherwise achievable.
Hard work is no longer enough.
Hard work has never been enough. My ancestors worked hard as shit and died destitute. When a small minority of people control the vast amount of wealth, you are at their mercy. How hard you work might possibly make a difference, but it's much more likely that you will succeed because your parents have wealth and connections, or because you were just dumb lucky, or because you found a way to exploit the work of others to your own benefit. Hard work has never been a guarantee of, nor prerequisite for, success.