This is one of Taylor's vengeance songs in the tradition of "Picture To Burn," but this time its aimed at a female. It is rumored that the song is aimed at the young actress Joe Jonas pursued after dumping Swift.
The first line of this song goes: "The story starts when it was hot and it was summer." Taylor Swift and Joe Jonas dated in the summer of 2008. Then Joe met 10,000 BC actress Camilla Belle on the set of the Jonas Bros "Lovebug" video, where Taylor was nowhere to be found. This song appears to be the Queen of Tween's melodic stab at Belle for stealing her boyfriend - "She came along, got him alone, and let's hear the applause/She took him faster than you could say sabotage."
The line, "Come on, show me how much better you are," provides further evidence that Taylor is addressing Belle in this song. The lyric is most likely a reference to the Jonas Brothers 2009 number "Much Better." That tune was felt by many to be an unkind remark at how superior Belle was in comparison to Swift. ("Now I'm done with superstars/And all the teardrops on her guitar/I'm not bitter/Now I see everything I need/Is the girl in front of me/She's much better.")