To dismiss someone angrily, similar to "fuck you" or "fuck off", but more to say that they are also wrong about something they just said to you.
It's a Chicago thing, first appearing in a Yelp Chicago talk thread about the southside of the city being less favored than the north, and the racial and other implications of that.
"Bitch, your tanorexic ass is just mad because you are poor and eat ramen and got roaches and shit."
"I'm not poor at all you wrinkly ho. In fact I got a luxary Audi and my daddy owns half the southside, so fuck your face."