ABSOLUTELY NOT!!! No this is not racist, but it is a satire on the American people. The story line is that somehow there was a "rapture" and only Mexicans were taken. Now all americans are saying "now what?" For the record, I am 1/2 mexican myself, and my husband is a permanent resident from Mexico. We have 2 kids. I wouldn't buy something I think to be cruel or demeaning to anybody. With that said, Americans have to find ways to improvise. My favorite situation is when no produce gets picked so you see white people putting on sunscreen and shorts to climb the trees. It is just a really funny satire to me.
This movie came out when all the immigration hype and iillegal immigrants started happening during Bush's presidency. This movie brings awareness to this issue and that Mexican's play a critical and almost primary role in our society and in our economy.