Yes, let's create an arbitrary list of words that are a no-no because we're incapable of inferring context(using common sense). This entire thread is absurd. Here's the fucking bottom line: Your derogatory insults have more weight than what you think, whether they're racial slurs or simple insults that target a specific attribute of fellow human beings.
It's rarely ever going to be the case that you can find an insult that someone, somewhere, hasn't been ridiculed with throughout their life, and are thus more sensitive to the term. Race, creed, gender, etc, doesn't matter. If we're going to enter into this discussion and actually try to fix the problem, then we need to actually fix the problem. That is, we as a community do the intellectually honest thing, and we deem all derogatory, hateful statements, as being 'wrong'.
Alas, I don't think this community is up for the task. Few communities on earth would be able to, as a whole, practice complete understanding and respect for one another. But any alternative to this, will either be hypocritical or intellectually dishonest in its implementation.