I have yet to find a latino that is actually offended by this saying, but the media would have you believe its like saying nigger, wetback or spic.
http://m.huffpost.com/us/entry/us_5808e121e4b0180a36e9b995
"Politics aside, the language Trump uses is just as important as what he is, or rather isn’t, saying. Sure he’s repeatedly spoken about immigrants as if they were a biblical plague of sombrero-wearing, mustachioed criminals yelling “arriba! arriba!” as they run across the border with taco bowls filled with drugs. But on Wednesday night he turned to Spanish to make his point."
This article from liberals favorite comedy site is good for some laughs, if nothing else. Funny she mentions taco bowls when it's what the DNC called the Latino vote. This reporter is a complete hypocrite. Nobody can even agree in the comments section of the article if Trumps comment was even racist.