racial slurs other than [censored]

[AngryCola]

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my argruement would be that calling someone a h omo is on par with something like deuchebag or retard than it is with [censored].

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I'm not sure what the censored word is here, but neither of your examples have anything to do with sexual orientation. To use h0mo as an insult almost always implies that there is something wrong with being a homosexual.

That's my take on it, and I believe it's at least part of the reasoning behind f.ag and fagg0t being censored, too.