If it's for defacing property, sure. That should be punished. But I'm not cool with punishing people for expressing an idea. Lots of people believe things that I strongly disagree with, or even find deplorable/offensive/vile/whatever. I acknowledge my difference of opinion and get on with my life without acting like a crybaby. That's part of being an adult.

Free speech is more important than your feelings, or mine. This might not be a popular opinion anymore, but I don't think anybody should be kicked out of school just for drawing a swastika, or saying anti-semitic or racist things.