The lyrics are about alot of things happening to the singer (his girlfriend telling him he's the king of the couch, getting drunk...) and the chorus is "ça plane pour moi".
As far as I know, the original song was interpreted in the 80's by a belgian singer named Plastic Bertrand. It has been performed in the 00's by The Presidents of the United States of America, on a punk tempo (not sure they were understanding all of the lyrics).