Don't know if you'd call it a 'folk song'......but there's a song by Billy Edd Wheeler and Jerry Leiber called "After Taxes"


AFTER TAXES
As recorded by Johnny Cash on "I Would Like to See You Again" (1978)

I feel so good, come payday.
I think of all the things I'm gonna buy when I pick up my pay,
Don't you know, but then they hand me that little brown envelope.
I peep inside; Lord, I lose all hope,
'Cause from those total wages earned, down to that net amount that's due,
I feel the painful sense of loss between the two.

(Federal tax.) There goes that bracelet for her arm.
(County tax.) There goes that new fence for my farm.
(State income tax.) There goes that brand-new Pontiac.
(Withholdin' tax.) There goes the shirt right off my back.

You can dream about a honeymoon for two.
You can dream but that's about all you can do,
'Cause by the time old Uncle Sam gets through with you,
You can buy her a pair of hose,
A little powder for her nose,
And take her down to Sloppy Joe's
For beer And stew.

Them are the facts,
After tax.
You can dream about vacations in the sun.
You can dream but you can't never have you one,
'Cause by the time your good old Uncle Sam gets done,
You've got just enough for gas
To see them city limits pass,
And if you get back home fourth class,
I'd say you've won.

(Federal tax.) There goes that bracelet for her arm.
(County tax.) There goes that new fence for my farm.
(Luxury tax.) Send back that short wave radio.
(Insurance tax.) Cancel that trip to Mexico.
(State income tax.) Forget that brand-new Pontiac.
(Withholdin' tax.) There goes the shirt right off my back.