Me and my parents swear at each other all the time. Usually not in a bad way but just kind of messing around. I'd let my child swear, well at a certain age at least. I don't want my 8 year old kid running around swearing and people.
I wouldnt put up with it. If you're going to disrespect me in my house after I buy your clothes and accessories and technologies etc. etc. etc.... then you're going to watch what you say. If you dont shape up... this is what I would do:
1. Take away your computer/ipod/phone/tv time/gaming systems/etc.
2. Take away your door - privacy is a privilege
3. Take away your clothes and only let you wear khakis, jeans, and plain T and polo shirts, plain shoes, plain makeup
4. Id probably take away everything in your room except necessities (blanket, pillow, desk, etc.)
"Nothing ruins the taste of peanut butter like unrequited love" - Charlie Brown