I think all too often people confuse common courtesy with respect.
Common courtesy is being polite. Opening doors if they're right behind you, saying please and thank you, excuse me, and if we work together, not creating a hostile work environment by discussing politics, religion, or any other things that are unprofessional, and not work related.
Basically, I'll try my best to treat everyone politely. It literally costs nothing to me, and ensures we get along together in society.
Now respect is a different thing for me. Respect is defined as admiration for someone because of their qualities or achievements, and that is always earned.
It's like trust. I'll treat everyone politely, but I don't trust everyone the same way that I trust my wife, my family, and my close friends, you have to earn trust.
So do I respect someone? Well, my answer is usually, "Well, have they done something worthy of respect?"
Now, for your boss, I'd apply that rule. Has your boss done something worthy of your respect? If not, then all you have to do as an employee is follow their leadership, as that's required for your job, but you don't have to respect them as a person.