Are angry right-wing outbursts against President Obama based in racism?  Yes.  Would any Democratic president, of any color or gender, see the same animosity?  Yes; the tone might not be so overtly racial but the hostility would be just the same.

The right-wing mindset - especially in the South (where I grew up) - has a deep belief that historically prevailing social order is "right"; that it is a product either of divine intent or social Darwinism or both, and that it is inherently wrong for liberal government to interfere with it (e.g. through redistribution of wealth, legislation protecting minority rights, affirmative action, etc.).  The right-wing base believes that all of us - not just minorities - should "know our place" in the prevailing order and hold to it.  It is not a surprise that market fundamentalism is attractive to the far right:  market fundamentalism is simply a form of social Darwinism, proposing that markets have a "natural" output that it is anathema to interfere with.  One could easily substitute "God's will" for "the Invisible Hand".  It is not a surprise that illegal immigration is the hot button for the right wing:  Hispanic immigrants, legal or otherwise, are perceived as a tremendous threat to the culture.

Modern Southern racism is not rooted in obselete views of racial superiority; it is based on cultural exceptionalism - the view that white, Christian "culture" has demonstrated its superiority by building the world's greatest nation, and that liberalism is an effort to undermine the prevailing culture.  Minorities who aid in promoting the superiority of the prevailing culture are welcomed, embraced, even venerated by modern racists.  

Very important not to simply view today's right-wing rage through the outdated prism of the Civil Rights era.