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A stupid way to say you don't care. It's like saying you're too lazy to even think about something. It's for people who are too dumb to use proper English.
I could give two shits about that homework. It's not like I have to do it anyway.
My mom called me. I could give two shits. She's always nagging me.
I could give two shits if I fail this test. I'm just gonna eat pizza and watch TV.