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1.
Is a phrase used by the speaker to indicate that he (the speaker) is in fact a homosexual.

The term was first used when semi-popular Youtuber Shane Dawson told all of his subscribers, in front of his camera "You're a faggot". The phrase has grown in popularity ever since. It can be heard most on the first 7 seasons of Maury.
"Hey dude, guess what. You're a faggot!"
"Oh wow, I'm so proud of you! Congratulations!"
by GNRlova23 November 02, 2013