I checked my compression it came out at like 124lbs, My magnet is near horizontal when piston it at its highest point(just past the poles on the coil) tried it without a muffler and without a
air cleaner witch was soaked in gas but its always been that way.
There is the telltale sign. The air cleaner should never be soaked with fuel. Slightly oily damp- yes, as a small amount of fuel does spit back when the engine is running. This is normal for a non-reed 2 stroke. It appears that your carburetor is flooding.
Is the carb mounted fairly level or is it at an odd angle? They will work at a slight angle but the float level needs to be adjusted to accommodate the slight angle.
You need to take it off and inspect the float for leaks. Does the float have any fuel inside of it? It should not as that will convert it into a don't float.
Does the float arm pivot freely like it should or does it get stiff or hung up?
Is there any debris stuck it the float needle valve that would prevent the float needle valve from sealing when the proper fuel level has been reached?
Is the float adjusted too high (common from the factory) and allowing too high of a fuel level inside the float bowl?
Are you using an in-line fuel filter? If not you really need to as the screen inside the fuel tank, part of the fuel valve, is horrible and should not be relied upon. Most folks remove the screen as they clog up quickly and instead use a quality in-line filter.
After stating all that, it also could be that the fuel jet inside the carb has fallen out of the jet holder and when you have the engine spinning at a high RPM, fast enough to draw fuel up and out of the float bowl, the carb is allowing an unregulated volume of fuel into the engine. This too can cause the air filter to become fuel soaked as the spit back will be more than normal.