Gypsies, Tramps and Thieves as sung by Cher can hardly be called racist. It is sung in the first person, most famously by someone who grew up as a mixed-race child and who was painfully aware of it. The song seems to be speaking of how horrible it is to be treated in a prejudicial manner by those who would try to exploit the "gypsies, tramps and thieves" (this phrase refers to what the bigoted "people of the town" call the group the narrator/singer belongs to).