How do we deal with hate speech?

We have our share of bashers who use this forum as a platform for hate speech, harrment and abuse. I believe that if we all report instances of abuse, harrment and hate speech, we can rely on the powers that be in Yahoo! to take the appropriate action. Responding to them in order to gain the extra 2 points isn't worth it. I won't target a name, specifically. I just think that if everyone who finds a bigot offensive reports them, the complaints will garner action. What do you think?