Personal attacks are subjective and race is defined as geography and political borders as well as group membership.
So how far do you want to go?
Redneck is a racist term
Donks can be a racist term
Mexican can be racist term...
So what are we really talking about here? Limiting free speech.
You either support the ideals of free speech, or you do not. Supporting free speech means reading and hearing things you would rather not and exercising tolerance for ideas you would spend your life defeating. It's not easy. Most do not have the intestinal fortitude to actually support free speech even though they say otherwise.
So if you want to change the rules...fine. However I doubt any mod has the actual commitment to enforce the policy evenly over the message board using populace.