I present a critical perspective on equity and inclusion as racial justice models in mathematics (education). I situate my critique in the context of efforts designed to increase Black representation. These efforts include recent reforms in K-12 mathematics education. Despite these reform efforts, many Black learners continue to experience dehumanizing and violent forms of mathematics education. I suggest that these forms of mathematics education are rooted in white supremacy and antiblackness, which have always functioned as self-correcting, multi-level projects of Black exclusion. Although equity and inclusion initiatives align with progressive sensibilities, these initiatives are often accommodated in ways that do not threaten the overall functioning of white supremacy and antiblackness. Framing mathematics education as a political-racial project aligned with other political-racial projects helps to explain why inclusion at certain levels of these projects has not diminished the intractability of Black exclusion at other levels.