1. SpongeBob is not gay, but a sexual. Otherwise, how to explain the episode where he gets in an argument with Sandy about the merits of land and sea creatures and says," Yes, Sandy, but can you reproduce by BUDDING?" (Litttle SpongeBobs pop out all over him.)
2. The show is fairly a-political, although there was a hilarious sequence in which Squidward convinced SpongeBob to go on strike. SpongeBob had a terrible time making effective picket signs, driving Squidward crazy. In the end, they ended up paying Crusty Crab so that they could get their jobs back.
I think it is a pretty funny cartoon, although it took me a few shows to understand it. I didn't understand they were underwater at first (because of the squirrel) and I was a bit confused as to who everyone was.