It's strange how words derive, become useful, have a recognized meaning by most everyone in that language group, yet are never really acceptable, especially in 'polite society'. Ain't is deffinitely one of those words. It is a contracted form of `are not.' It is also used for `am not' and `is not.' It was characteristic of working class London speech (and now of rural American speech) and was also used at one time in upper class (posh) British speech. It is recorded from 1778. It has also been used, since 1845, to mean `have not' and `has not.' It's always spelled, when used in written form, with an apostrophe. My guess is, that it has never received recognition and acceptability simply because of it's origin... Ain't that strange?