This song is called Mutt because a Mutt is an old-fashioned word for a girl (and guy in this case) that has no standards in life. This song is about a girl and guy in a relationship and they don't care at all. They want to have sex with each other ("He wants to bone, this I know, she is ready to blow"), and they are spoiled ("Her credit cards are paying the funds"). They are rich and can do whatever they want and Tom finds this sickening because they have no idea what the real world is like.
Doug - Las Vegas, NV