In a deep pot or Dutch oven, cook the meat over medium-low heat, taking care to get the meat well crumbled (almost like grain). You don't need to brown it, just grey it. Cover the pan and cook over low heat for about 10 minutes.
Remove the meat from the pan and drain off most of the fat (if you used lean meat, there shouldn't be too much fat).
While the meat is steaming (simmering); put the cornstarch and Wondra into a large measuring cup or deep bowl, slowly add the water, whisking until well blended. Add the vinegar and tomato paste, blending well. Set aside.
In another bowl, combine the chili powder, salt, onion flakes, sugar, garlic powder, and pepper. Mix well. Set aside.
Add the water mixture to the now-empty pan and stir well, return the meat to the pan along with the spice mixture; bring to a simmer, stirring often. Simmer for 30 minutes, stirring occasionally. Use to top your hot dog, hamburger, or fries...it's all good.