Here's a absolutely brilliant analysis of that very question by Tim Wise.
Imagine that hundreds of black protesters were to descend upon Washington DC and Northern Virginia, just a few miles from the Capitol and White House, armed with AK-47s, assorted handguns, and ammunition. And imagine that some of these protesters —the black protesters — spoke of the need for political revolution, and possibly even armed conflict in the event that laws they didn’t like were enforced by the government? Would these protester — these black protesters with guns — be seen as brave defenders of the Second Amendment, or would they be viewed by most whites as a danger to the republic? What if they were Arab-Americans? Because, after all, that’s what happened recently when white gun enthusiasts descended upon the nation’s capital, arms in hand, and verbally announced their readiness to make war on the country’s political leaders if the need arose.There's a lot more to this trenchant and troubling analysis, so be sure to read the whole thing
Imagine that white members of Congress, while walking to work, were surrounded by thousands of angry black people, one of whom proceeded to spit on one of those congressmen for not voting the way the black demonstrators desired. Would the protesters be seen as merely patriotic Americans voicing their opinions, or as an angry, potentially violent, and even insurrectionary mob? After all, this is what white Tea Party protesters did recently in Washington.
Imagine that a rap artist were to say, in reference to a white president: “He’s a piece of shit and I told him to suck on my machine gun.” Because that’s what rocker Ted Nugent said recently about President Obama.
. . .
Imagine that a popular black liberal website posted comments about the daughter of a white president, calling her “typical redneck trash,” or a “whore” whose mother entertains her by “making monkey sounds.” After all that’s comparable to what conservatives posted about Malia Obama on freerepublic.com last year, when they referred to her as “ghetto trash.”
Imagine that black protesters at a large political rally were walking around with signs calling for the lynching of their congressional enemies. Because that’s what white conservatives did last year, in reference to Democratic party leaders in Congress.
In other words, imagine that even one-third of the anger and vitriol currently being hurled at President Obama, by folks who are almost exclusively white, were being aimed, instead, at a white president, by people of color. How many whites viewing the anger, the hatred, the contempt for that white president would then wax eloquent about free speech, and the glories of democracy? And how many would be calling for further crackdowns on thuggish behavior, and investigations into the radical agendas of those same people of color?