"Therefore the Lamanites (people of color) could have no more possessions only in the land of Nephi, and the wilderness round about. Now this was wisdom in the Nephites--as the Lamanites were an enemy to them, they would not suffer their afflictions on every hand, and also that they might have a country whither they might flee, according to their desires."
-- Alma 22:34 (Book of Mormon)
Look at the two things that this verse states. First, it says that the Mormons deliberately made sure that they limited the amount of possessions the Lamanites, or people of color, were allowed to have. Second, it states that the people of color are the enemy. Unfortunately, these two racial stereotypes are embedded deeply within American history and ideology.
Remember that former Gov.believes this stuff. If you are a person of color voting for Romney, then expect for your finances to decrease if he wins the election in November. Why vote for someone who believes that you are the enemy if your pigmentation is darker than his?