As a slogan, I think it's effective. Where it leads to, however, may not be.
You can interpret it two ways. One, as saying that you can be good without the belief in God, but that's a rather pointless argument, and a sophisticated theist might point out that you can be good because of God without necessarily believing in God. Second, it could mean that goodness doesn't depend upon God. That's a more sophisticated argument, but one that leads immediately into difficulty, as there obviously is goodness in the world, so the atheist is then tasked with explaining that fact independent of God, which is not a small order.
So, I don't personally use the slogan, nor do I think it's the best starting point for a discussion about God and morality.
You can interpret it two ways. One, as saying that you can be good without the belief in God, but that's a rather pointless argument, and a sophisticated theist might point out that you can be good because of God without necessarily believing in God. Second, it could mean that goodness doesn't depend upon God. That's a more sophisticated argument, but one that leads immediately into difficulty, as there obviously is goodness in the world, so the atheist is then tasked with explaining that fact independent of God, which is not a small order.
So, I don't personally use the slogan, nor do I think it's the best starting point for a discussion about God and morality.