First, the way he turns to his co-hosts and says "The Blacks." Cringe.
Second, the historical trajectory of the N-word and 'Nazi' aren't even comparable. The N-word was used by an oppressive, ruling class to demean and dehumanized their subjects (i.e. black people, both freed and enslaved). It's later reclamation from the black community was a subversion of that oppression.
'Nazi' (from Nationalsozialismus), on the the hand, was a term of identification for adherents of an abhorrent ideology. It's how said adherents identified each other. With their defeat in WW2, 'Nazi' (along with 'Fascist') became a taboo descriptor; a descriptor of a racist loser. Neo-Nazis have attempted to re-evaluate the term but any sane and rational person can see right through them.
If you had any doubts that Fox News was the mouthpiece for American Fascism, this clip provide sufficient evidence.