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Taken from the word Moron with an extra 'o' at the end, followed and conjoined by the suffix of '-tard' from the word Retard.

The act of being a Moron AND a Retard. Created by P-Ro and Chewie in Sierra Vista, Az
Chewie to his wife: "The word was 'HOTEL' you dumb broad!"

P-Ro to Chewie: Bro, you're such a Moronotard
by ChewManFoo January 04, 2011