Nonsense. I’ve known plenty of Catholics who love that song. As I said earlier, he writes from the point of view of various characters. Do you think he was an unemployed steel worker as well? And there is plenty of much more acerbic humor about Jews in various films.
Somehow I don't think that if he ever wrote a song that was offensive to Jews or degrading to Judaism that you would be here defending him.
PS Billy Joel is a hack musician who gained fame way beyond his talent. La-la-diddy-da-da.
Only the Good Die Young is one of my favorite songs (and I’m a practicing Catholic, heh).