But intentionally inciteful hate speech against racial/religious minorities can (and occasionally does) lead to fines or jailtime.
> On 15 April Merkel announced in a press conference that the German government had approved Böhmermann's criminal prosecution, but would abolish the respective paragraph 103 of the German penal code before 2018. Intense criticism followed the Chancellor's decision, with speculation that she decided to allow the prosecution in order to protect Germany's refugee deal with Turkey.[3] The case was dropped in October 2016.[4]
https://www.humanityinaction.org/knowledgebase/206-you-can-s...
https://www.dw.com/en/is-it-illegal-to-call-someone-a-nazi/a...
We already know the answer: they will claim that attacks on them are racially motivated (regardless of the truth) and shut them down. Plenty of examples of that sort of thing going on today outside of politics.
Though if the target is a politician, I'd expect them to prefer to err on the side of allowing it.