Correction, the album was called Billion Dollar Babies, released in 1973. Alice had not yet begun to wear eye makeup like that until later.

Why was the album called this and why was a naked, crying baby there with black ugly makeup around its eyes?

Think about it. Add that to the stacks of bills, white rabbits, dead white dove in the bird cage with the live owl?

From an article titled: The scandalous story of Alice Cooper's Billion Dollar Babies

Forget Marilyn Manson, forget the Sex Pistols; when it came to shocking the self-appointed guardians of international morality to the core, Alice Cooper pretty much wrote the handbook.

Flaunting a sketchy past swathed in urban legend and cunningly fabricated falsehoods concerning witches, ouija boards, dismembered chickens, blurred genders and necrophilia, Alice Cooper succeeded in outraging the forces of decency to an unprecedented degree over the course of his casual early-70s transition from cult notoriety to mainstream ubiquity.

Cooper’s infamy was such that in May 1973 Leo Abse, the incumbent Labour MP for Pontypool, spluttered in the House of Commons: “I regard his [Cooper’s] act as an incitement to infanticide for his sub-teenage audience. He is deliberately trying to involve these kids in sado-masochism. He is peddling the culture of the concentration camp. Pop is one thing, anthems of necrophilia are another.”