Hate speech is free speech
Once the precedent is establish that "hate speech" can be punished, no speech is safe. Including yours.
The true test of our commitment to free speech is when it is speech we dislike or even find repulsive. If you believe in free speech, you will defend the speech you dislike as vigorously as you defend your own speech or the speech of your friends and allies.
“But what about...”
No. Our first commitment must be an ironclad defense of free speech. If we are committed to free speech, our first reaction should not be to look for exceptions where we can censor speech. Our default perspective on free speech must be that government may not censor speech, no matter how odious that speech may be. When the first thing we do in response to a standard is to start looking for exceptions, we destroy the standard itself.
Ethnic and racial hatred is a sin against God, who put His image in man. If you hate someone for his skin color or ethnicity, you are hating the image of God. The answer to this sort of hatred is not for government to arrest and punish someone for his speech, but for people to rationally explain why racist and anti-Semitic hatred is both illogical and sinful.
“Hate speech” laws are also targeted at Christians, especially Christian teaching on sexual morality. This is why stating the biological fact that sex is an immutable characteristic or spreading Biblical teaching about sexual morality is defined as “hate speech.” Those who are in sin always seek to silence and punish speech that convicts them of their sin. Far from being “hate speech,” calling sinners to repentance and faith is an act of love.
Precedent matters. When government has the right to censor the most offensive speech, that precedent can and will be applied to more and more speech, to the point that anything a government bureaucrat does not like is labeled “hate speech” and subject to punishment by the governing authorities. This includes support for persecuted minorities. We see this in the United Kingdom, when simply holding a sign saying you stand with Jews in Britain is cause for arrest by the thoroughly corrupt police.
If we truly believe in free speech, then we must defend “hate speech” and oppose all efforts by authoritarian bureaucrats and politicians to censor that speech. Once “hate speech” is subject to punishment, no one has free speech. They will come for you eventually, because there is no limiting principle to what is defined as “hate speech.” Hold the line and refuse to compromise.