What makes the word itself disparaging is the intent behind it.

The intent behind it is to refer to white people as a whole in a condescending(at the very least) manner.
Ok so it's not the word, it's the context that it's being used in. That makes perfect sense to me. Glad to see someone with common sense.
You say you use it as slang. If you don't mind, let me ask you a few questions:
-you claim you don't know/don't agree that 'cac' is offensive. You have black people in this thread telling you it's offensive. You have white people in this thread telling you it's offensive. The very fact that this is being discussed shows that it's a sensitive issue. Shouldn't you avoid it altogether, just to be on the safe side or avoid confusion and conflict?
No
-hypothetically, if white people would want to use a slang term for blacks, or latinos, or asians, what slang terms would be acceptable?
White people have had terms for people of color for hundreds of years, the reason that they aren't considered acceptable is because all of those terms have racist origins. The term cracker doesn't have a racist orgin, it's was originally used by whites to describe other whites. White people originally referred to themselves as crackers. That term wasnt created by nonwhites as a way to demean the white race, an that's why it's not a racist term. It's simple really.
Just for the record, your agument is the same argument used by racist old timers. They use ******, spic, paddy, kike, chink etc. all the time and when confronted about it they go "I don't say it to offend, that's just the way people talked on the street/ in the neighbourhood in my day".
No, you're wrong. I just explained the difference between the terms you just listed and the term cracker. Why do you people have such trouble understanding simple shyt?