Lyric discussion by jtripper 

Cover art for Penny lyrics by People In Planes

I'm pretty sure it's about someone working in a job where he just performs one function all day, like in a factory. And feels treated as a machine rather than a person. Just my take though

I can also see the Industrial Revolution connection with the song sung from the point of view of a man whose job is being taken by a machine.

The band are Welsh though I believe so I doubt highly they're making fun of the US in particular in any way