Lyric discussion by choke_save 

uh.... its about acid. everybody knows thaat.

(and a good hint for your future otc experiences; theyre all about lsd, generally speaking)

Actually it's about the over-the-counter cough suppressant dextromethorphan, a psychedelic dissociative in higher than medicinal doses. It's effects on the third and fourth plateau of dissociation are sometimes described as "floating", although that's not exactly the word I would use for my own subjective experiences.

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