[Anechoic]

MLK said this in his famouse speech

MLK also said: "Whenever the issue of compensatory treatment for the Negro is raised, some of our friends recoil in horror. The Negro should be granted equality, they agree; but he should ask nothing more. On the surface, this appears reasonable, but it is not realistic."

I am all for college admission policy to help out low incoming group, based on his/her economy status, [..] but not discrimination based on skin color

The problem is that research has shown that institutional discrimination is not just based on economics, but also on race (for example, Prager's research showing that a white job applicant with a criminal record is more likely to get a job callback than a black applicant without a criminal record). Ignoring race isn't the answer. As for what is the answer, that's a much harder problem which is why we're still wrestling with it.