Lyric discussion by theillusionary 

Cover art for Dead Horse lyrics by Rackets & Drapes

This song is talking about how some preachers, evangalists and churches will use the Word of God to get money. Claiming that the more they give the more God will bless them. These people/churches also completely ignore those who have no money and who are in need. This type of ministry is full of evil and lies. R&D is pretty much saying, "Get off your high horse...it is dead." The horse, being a metaphor for their ministry.