This discussion seems to reveal how mindlessly contemporary phrases are accepted and perpetuated by people, without regard to any particular meaning or history behind them. Since the “leaders” of the ethnic movement supposedly represented by the term “hispanic” seem to prefer the term, everyone must accept and use it.
And, of course, “african american” is another. Consider the innate racism behind accepting and passing along the phrase. If it’s not apparent after some thought, it can be explained. But it’s very curious - and significant - to note that one of the principle proponents of the term’s use, jesse jackson, was recently overheard on a live mike referring to “his” people as blacks, although he would likely insist on the other.
Once you allow your speech to be dictated by another, and begin to censor it yourself, your days of free thought are coming to a close. Words do count, but mainly as indicators of the thought, or non-thought, behind them.