A relevant recent post on "asshat": https://news.ycombinator.com/item?id=31345163
Also, the compound assclown was coined by Office Space: https://www.cinemablend.com/news/2467219/how-office-space-co...
I had read somewhere that the altered line was intended to be read "no-talent-ass clown", but Herman read it as "no-talent ass-clown", and a fantastic insult was born. That part could be apocryphal though.