Baa, baa, black sheep have you any wool?

Yes, sir, yes, sir
Three bags full.
One for the master
And One for the Dame
One for the little boy
Who lives down the lane...

I am going to just explain why this is twisted.

1) Black sheep, not any other color, but black

2) one for the master, Master, like if we're talking about this, then this is probably like slavery. Or maybe the king if it's talking about the tax on wool

3) And one for the Dame, The church

4) One for the little boy who lives down the lane, The farmers and shepherds

5) this originally was: 

Baa, baa, a black sheep,

Have you any wool?

Yes sir, yes sir,

Three bags full,

Two for my master,

One for the dame,

But none for the little boy,

That cries down the lane

In this variation, the boy could be the shepherd, which would mean that the Churches and the Master, would probably get all the money from the wool, and not the kid