A sarcastic phrase meaning "as if I could care less about this."
Stupid people often complain about this phrase, insisting that "I couldn't care less" should be used instead. This is because they fail to realize that "I could care less" is an appropriate and historically popular idiom that dates back to the 1960s.
The very same morons will probably tell you, "But if you could care less, that means you actually cared about it at least a little bit in the first place." That is because the sarcasm is lost on them. Should you hear this, just smile and enjoy knowing that you are speaking to someone of low intelligence.
Pete: "Did you hear? Jenny got AIDS!"
Reggie: "I could care less, man."
Pete: "Haha, you mean 'I couldn't care less.'"
Reggie: "No I don't. You're retarded."