Those are not the only choices. There is also, at least,

3. Reclaim resources, eliminating the protections that traditionally disadvantaged groups currently enjoy.

4. Equality of opportunity for everyone, in keeping with the founding principles of the country (c.f. "life, liberty, and the pursuit of happiness").

White supremacists argue for (3). Libertarians, and the increasingly difficult-to-find libertarian branch of the Republican party, argue for (4). Non-libertarian conservatives tend to argue for (2) unless you keep pressing them at which point they will give lip service to (4).

The real debate, I think, is mostly between (1) and (4). We have seen some spectacular failures of supposed equality of opportunity, but we've seen arguably even more spectacular failures of attempts at equity (c.f. communism).