ARE ALL HISPANICS AND LATINOS THE SAME?
No, they are not. Each of the peoples considered Latinos or Hispanics have their own culture, customs, and mannerisms. They all differ from each other in different traditions, values,festivities, etc. Therefore it is ignorant, pejorative, misleading to say that all Latinos and Hispanics are the same. It is not because many people speak the same language that they all have the same characteristics. It is a coincidence that they share the same language, however their background may vary drastically. Before one begins to respect such differences, one has to comprehend that there are differences among people who often are lumped together. The problem with applying labels and making broad cultural assumptions is that too often they oversimplify.
Hispanic is an English word that originally referred to people from Spain and eventually expanded to include the populations of its colonies in South and Central America. Latino is a Spanish word that refers to people with roots in Latin America and generally excludes the Iberian Peninsula. For many, Hispanic has negative connotations because of its Eurocentrism (focus on Europe’s people in way that is arrogantly dismissive of others). Latino, meanwhile, is perceived as a more authentic-sounding, Spanish-language alternative. But most Portuguese speakers—whether from Portugal or Brazil—do not consider themselves Hispanic or Latino. But if someone from Brazil says he's Hispanic, the census doesn't say “No, you're not”. Ultimately, there is no strict definition of Hispanic or Latino.
According to Mrs. daSilva (a Brazilian immigrant who lives NY, 2011), she says that “Hispanic would be a good word to refer to peoples from Spanish speaking countries; and Latinos could be used for Spanish speaking people and Brazilians, due to the fact that Brazil is located in South America, also known as Latin America. Brazilians may not speak Spanish but they are Latinos due to Brazil’ location in South America”. The U.S. Census Bureau makes no distinction between the two terms. It defines Hispanics and Latinos as "persons who trace their origin or descent to Mexico, Puerto Rico, Cuba, Spanish speaking Central and South America countries, and other Spanish cultures."

For more information, click on:

http://topics.blogs.nytimes.com/2009/06/09/hispanic-latino-or-what/
http://www.lasculturas.com/aa/aa070501a.htm