Interestingly, either would be correct.
The quote this world is your world, take it easy but take it! apparently appeared in the Woodie Guthrie Songbook of 1945, not as part of a lyric but just a quote from Guthrie; and the phrase is apparently often ascribed to him.
The phrase take it easy, but take it is the last line of Talking Union, written in 1941 and credited to Millard Lampell, Lee Hays and Pete Seeger.
That song was first performed by the Almanac Singers, which were Woodie Guthrie, Lee Hays, Millard Lampell and Pete Seeger.