Let's take this shit back to the basement
Eminem was a popular “underground” rapper before Dr Dre turned him into a commercial success; by the “basement” he means reverting to his underground, hip-hoppy, Mos Deffy style.
The song is meant to be a take-back on the racial slurs he adressed on Foolish Pride, he is taking it back to the basement where he recorded it.
Bassmint Productions was the first group Eminem was in (and where he began working with Proof).
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