This is/was an advertising slogan for a popular bug spray such as Black Flag. The television commercials for this would show various bugs having a party in one form or another, often ignoring other bug sprays or insecticides or the bugs not noticing someone trying to kill them but enjoying the food or the ambiance of the area. Suddenly, the bugs would notice that someone had sprayed Raid in the area, and would scream RAID! but were too late, their fate was sealed and they were doomed. The fumes from the Raid spray would form into some sort of weapon and would pound, crush or eviscerate the bugs and send them to bug heaven.
of this slogan
, AIDS Kills Fags Dead
was created by the anti-gay community.